While China is building more coal plants, the actual usage of these plants is decreasing. This is due to a reduction in the capacity factor of coal plants, meaning they are running less often (down to 50% from 70% over the past 15 years). High coal prices and increased competition from cheaper renewable energy sources simply make coal plants less economically viable.

And while its common to say that "China" is building more coal plants, the overbuilding is partly driven by provincial-level approvals prioritizing local energy security and economic growth metrics, again leading to an inefficient overcapacity in coal power.

https://www.sustainabilitybynumbers.com/p/china-coal-plants

On the flip side, China is installing the wind and solar equivalent of five large nuclear power stations per week. China can be called the "first major electrostate", with 30% of its total energy consumption coming from electricity (it's about 18% for the rest of the world) and electrifying nine times faster than the rest of the world.

Hence the ":increased competition:" part.

And the net result of which looks to be hitting its 2030 targets in 2026, four years early.