UPDATE 9-Oil rises near $50; doubts on OPEC plan limit gains
* OPEC plans to cut 700,000 bpd, glut at 1.0-1.5 million bpd (New throughout, updating market activity and comments to settlement)
BEIJING, June 2 China aims to save 75 terawatt hours of power per year, the equivalent of 75 million tonnes of carbon dioxide, by promoting energy-efficient air-conditioners and other home appliances.
The government plans to raise the market shares of such appliances to over 30 percent by 2012 by subsidising sales, the National Development and Reform Commission said.
The appliances include air-conditioners, refrigerators, washing machines, flat screen television sets, microwave ovens, rice cookers, electromagnetic ovens, water heaters, computer screens and electrical motors.
China is widely believed to be the world's biggest emitter of carbon dioxide, the gas from fossil fuels, industry, farming and land clearance that is accumulating in the air, trapping more solar radiation and threatening to overheat the globe.
It is drafting a long-term plan for climate change that will focus on raising energy efficiency, developing clean-coal technology and expanding carbon-absorbing forests.
The commission has detailed the first batch of makers and types of air conditioners whose sales would be subsidised by 300 yuan ($44) to 850 yuan each by Beijing, a move which would alone save up to 6 terawatt hours of power a year if their market share rises to more than 30 percent from the current 5 percent.
A terawatt equals one trillion watts. China has yet to detail subsidies for other household goods.
Air conditioning consumes 20 percent of China's power and accounts for nearly 40 percent of power use during peak demand time in summer in cities, according to the commission.
China produced more than 70 million air conditioners in 2008 and over 40 percent of them were exported.
It also produced nearly 200 gigawatts in electrical motor power last year and over a quarter were shipped abroad.
Electrical motors and the systems they drive consume 60 percent of China's power production but less than 2 percent of the motors sold on the domestic market are energy efficient. (Reporting by Jim Bai and Chen Aizhu; Editing by Nick Macfie)
* Wall St slides, bank stocks weigh (Updates prices, adds comment)
LIBREVILLE, Sept 29 Gabon's opposition leader Jean Ping called on Thursday for national talks to form a "new republic" and urged foreign powers to impose sanctions on allies of President Ali Bongo, sworn in this week after a disputed election in the oil-producing nation.