China’s new oil giants flourish in Xi’s clean energy wave

These newcomers have gained the moniker Teapot 2.0 in China, and are benefiting because they are fitting into Xi’s push for cleaner industries and greater energy efficiency.

BEIJING: China’s newest oil refiners are thriving by aligning themselves with President Xi Jinping’s vision, expanding even as their older rivals and several other private businesses have been reined in by Beijing.

These newcomers have gained the moniker Teapot 2.0 in China, and are benefiting because they are fitting into Xi’s push for cleaner industries and greater energy efficiency.