Core Insights - The Ministry of Finance has announced adjustments to the value-added tax (VAT) policies for onshore wind, offshore wind, and nuclear power, transitioning from broad subsidies to targeted support [1][2] - The new VAT policies will take effect from November 1, 2023, with specific provisions for offshore wind and nuclear power projects [1][2] Group 1: Policy Changes - The VAT exemption for onshore wind power, established in 2015, will be abolished starting November 1, 2023 [1] - From November 1, 2023, to December 31, 2027, a 50% VAT refund policy will be implemented for electricity products generated from offshore wind [1] - For nuclear power, projects approved before October 31, 2025, will benefit from a 50% VAT refund for ten years after commercial operation begins [1] Group 2: Industry Implications - The differentiated VAT policies reflect a shift in the government's approach to renewable energy, moving from "policy blood transfusion" to "market blood production" [1] - The new policies indicate a transitional support strategy for the growing offshore wind and nuclear power sectors, with a focus on fostering technological competitiveness [2] - The success of offshore wind power in achieving price parity by 2027 will depend on advancements in floating technology and access to deep-sea development rights [2]

Core Viewpoint - The National Bureau of Statistics spokesperson Fu Linghui announced that China's energy supply is undergoing a green transition, leading to an increase in investment demand for clean energy sources, with a significant growth in investment in solar, wind, nuclear, and hydropower from January to July [1] Investment Growth - From January to July, the total investment in solar, wind, nuclear, and hydropower in China increased by 21.9% year-on-year [1]

Core Viewpoint - The spokesperson of the National Bureau of Statistics, Fu Linghui, indicated that as China's energy supply undergoes a green transition, the demand for investment in clean energy is expanding, with a significant increase in investment in solar, wind, nuclear, and hydropower generation from January to July, showing a year-on-year growth of 21.9% [1] Investment Growth - From January to July, the total investment in solar, wind, nuclear, and hydropower generation in China has increased by 21.9% year-on-year [1]