China Steps Up Green and Low-Carbon Circular Economic Development

The State Council recently released a guideline on accelerating the development of a green and low-carbon circular economic development system (Guo Fa No. 4 [2021]). China aims to achieve significantly stronger internal drive for green development, while green industries will scale new heights by 2035. The energy and resource utilisation efficiency in key industries and for key products is expected to reach an internationally advanced level, and carbon emissions will steadily decrease after peaking.

The document put forward a number of policies, including promoting the green upgrading of industries, raising the level of green development in the service sectors, building green supply chains, establishing green logistics and trade systems, promoting the green and low-carbon transformation of the energy system, increasing fiscal and tax support, vigorously developing green finance, and improving green standards and green certification, statistical monitoring and evaluation systems.

Source: State Council