China’s new green-transition guidelines show how the embattled industry will power on

For the first time, Beijing puts a US$2 trillion price point on the scale of China’s energy-conservation and environmental-protection industry by 2030

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A solar-thermal energy storage power station is seen in China’s Gansu province last month. Photo: Xinhua

Published: 8:00pm, 12 Aug 2024

Amid rising protectionism worldwide, Beijing has vowed to accelerate China’s green transformation while also calling for greater global collaboration in its unveiling of a 33-point set of guidelines that signal leadership’s first systematic deployment of green targets.

“We must adhere to a safe transformation at work,” said the guidance for “accelerating a comprehensive green transition in all economic and social sectors” that China released on Sunday.

The document stressed the need to “properly prevent and resolve internal and external risks and challenges faced by the green transformation; effectively ensure food and energy security; [and protect] industrial supply-chain security”.

The main objectives aim to achieve “remarkable results” in the green evolution by 2030, and to basically establish a green, low-carbon and circular development economic system by 2035, according to Xinhua.

An unidentified official with the National Development and Reform Commission (NDRC) – China’s economic planner – said the guidelines were being promulgated as China has made historical achievements in green and low-carbon development, which includes the world’s biggest and most complete new-energy industrial chain, and also because the green transformation has faced challenges and “setbacks”.