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China's Green Transition Gains Momentum

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China’s Green Transition Gains Momentum

by Geraldine S.
09/05/2024
in Green Supply Chains

China’s push toward high-quality economic development and fostering new productive forces is expected to further advance the nation’s green transition, according to industry experts. These remarks follow the recent plenary session of the 20th Central Committee of the Communist Party of China, which emphasized high-quality development as a key goal in building a modern socialist nation.

Key measures outlined in the resolution include the orderly development of new energy sectors, encouraging companies to adopt green technologies for industrial transformation, and implementing stricter environmental protection policies. China has introduced a dual control system that now prioritizes carbon emission reductions over energy consumption.

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Muyi Yang, senior electricity policy analyst at Ember, highlighted that this focus on high-quality development aims to build an economy that is efficient, technologically innovative, and environmentally sustainable. He noted that China’s strategy emphasizes upgrading industries and enhancing productivity while minimizing environmental impact.

Belinda Schaepe, China policy analyst at the Centre for Research on Energy and Clean Air, pointed out that clean energy has already become a major contributor to China’s economic growth. She noted that China’s efforts in green technology are helping reduce global clean energy costs, fostering wider adoption worldwide, and supporting global supply chain diversification.

China’s green transition has also prompted traditional industries to adopt cleaner practices. For example, the steel sector has moved toward cleaner production methods, and state-owned enterprises in the electricity sector are increasing investments in renewable energy.

Despite the progress, Schaepe and Yang acknowledge that challenges remain on the path to carbon neutrality, emphasizing the need for clear goals, continued policy support, and investment in clean industries.

Stay current with supply chain news on The Supply Chain Report. Free trade resources are available at ADAMftd.com.

#GreenTransition #SustainableDevelopment #CleanEnergy #EnvironmentalProtection #GlobalSupplyChains

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