Target $18.72, page-6182

Reuters D. Stanaway 12.6.23 said

"Although this year's drought is not expected to be as severe as last year's, when months of high temperatures parched large parts of the Yangtze basin, state forecasters warn that central and southwestern China could suffer.

Parts of the southwest have already imposed special measures, with a water company in Sichuan province's Liangshan County urging residents not to shower more than four times a month.

China's per capita water resources are much lower than the world average and distribution is uneven. It has long relied on large-scale infrastructure to deliver water from the flood-prone south to the arid north and find engineering solutions to its long-term supply woes".

China's north generally has low levels of rainfall, whilst the south usually has high levels of rainfall.
Many multi-billion $ huge dams & hydroelectric power plants have been built in the south, to provide water for the north; & also hydro-electric power.
Could China again, in its drought-effected summer 2023, have major hydro power shortfalls, as in 2022? If so, more thermal coal power will be required= more coal imports.

https://www.reuters.com/world/china/climate-change-hits-china-weighs-new-water-megaprojects-2023-06-13/