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China scraps construction of 85 planned coal power plants

Move comes as Chinese government says it will invest 2.5 trillion yuan (300 billion) into the renewable energy sector

China 2020 Renewable Energy Plan

China has suspended 85 planned coal power plants in a bid to meet a government coal capacity target laid out in its latest plan for social and economic development

It came after the NEA said it would plough 2.5 trillion yuan ($361 billion) into renewable power generation by 2020, as the world's largest energy market continues to shift away from coal power towards cleaner fuels.

The investment will reportedly create over 13 million jobs in the sector, with the agency estimating renewable power capacity including wind, hydro, solar and nuclear power will contribute to about half of new electricity generation by 2020.