BEIJING, Aug. 11 (Xinhua) — The Communist Party of China (CPC) Central Committee and the State Council have put forward a set of policies to promote green transformation in all areas of economic and social development.
According to the recently released guidelines, the main goals are for the country to achieve “remarkable results” in the green transition in all areas of economic and social development by 2030, to essentially establish a green, low-carbon and circular economy-oriented economic system by 2035 and to essentially achieve the goal of a “Beautiful China”.
The guidelines raise a number of work tasks, such as optimising the development and protection of territorial spaces, promoting the green and low-carbon transition in the industrial structure and energy sector, and promoting the green transition in the transport sector and urban-rural development.
The guidelines also set quantitative work targets for various fields. By 2030, the scale of the country’s energy conservation and environmental protection industry will reach about 15 trillion yuan (about 2.1 trillion U.S. dollars), the proportion of non-fossil energy will rise to about 25 percent of energy consumption, and the installed capacity of pumped storage power stations will exceed 120 million kilowatts.
By 2030, the carbon emission intensity of commercial transportation per unit of revenue will decrease by about 9.5 percent compared to 2020, and the annual use of bulky waste will reach about 4.5 billion tons, with the emission rate of key resources increasing by about 45 percent compared to 2020, the guidelines said.
According to the National Development and Reform Commission (NDRC), the guidelines were issued at a time when China has made historic achievements in green and low-carbon development since the 18th CPC National Congress in 2012.
For example, the installed capacity of renewable energy reached 1.653 billion kilowatts by the end of June 2024, accounting for 53.8 percent of the country’s total installed capacity. In 2023, the country’s energy consumption and carbon emission intensity per unit of GDP fell by more than 26 percent and 35 percent, respectively, compared to 2012, it said.
However, according to the NDRC, China still faces difficulties and challenges in its green transformation, as its energy structure remains focused on coal and the proportion of fossil fuels and traditional industries in the country remains high. “In addition, the global green transformation is experiencing setbacks, environmental and climate issues are becoming increasingly politicized, and trade barriers for green energy are increasing.”
According to the NDRC, the guidelines will be of great significance in advancing the green transformation of the development model, comprehensively promoting the building of a beautiful China and achieving high-quality development.
The guidelines also emphasize the green shift in the consumption model by encouraging people to pursue a green and healthy lifestyle. They also aim to boost green consumption by expanding the scope and scale of government procurement of green products, promoting trade-in schemes to boost consumer spending on green products, and conducting marketing campaigns for alternative fuel vehicles and green home appliances in rural areas.
According to the guidelines, the country will pursue budget and tax policies that promote green and low-carbon development and efficient use of resources.
In terms of financial instruments, China will extend the implementation period for instruments to support carbon emission reduction until the end of 2027 and actively develop financial instruments such as green equity financing, green financial leasing and green trusts.
In terms of investment mechanisms, according to the guidelines, central budget investment will actively support key projects, and the government will promote and regulate the participation of social capital in green and low-carbon projects. ■
