The freeze follows a gradual change of heart on coal from Chinese officials worried about excess capacity. They told multiple provinces to stop approving coal plants back in March 2016, and in April implemented a "traffic light" approval system that shot down plans for 90 percent of upcoming plants. By October, it was shutting down under-construction projects.

Of course, this isn't really a shift away from coal -- it's more about keeping coal in check. However, it's a big deal in a country where smog can reach crisis levels, particularly during cold winter months when heating drives spikes in demand. And it's a sharp contrast with the change of direction in the US, where the incoming administration is bent on propping up the coal industry.