THE GND IS TOO CAUTIOUS:

"China will step up support for other developing countries in developing green and low carbon energy and will not build new coal-fired power projects abroad," Xi Jinping said in translated remarks.

It was seen as a stunning development because after the withdrawal of Japan and South Korea earlier this year, China was basically the world's last significant backer of international coal generation projects.

Its sudden commitment to cease its support is expected to eliminate three quarters of current proposed coal fired power stations and deliver a significant blow to global coal demand - including for Australian thermal coal.

Tweet   @brothersjudd