China promotes use of renewable resources – MENAFN.COM

(MENAFN – Asia Times) China’s State Council on Monday released guidelines to strengthen the development of a green and low-carbon circular economic development system, vowing to improve the utilization of renewable resources, including wind and photovoltaic power.

By 2025, China will see a marked rise in the scale of green industries, a continued drop in major pollutants and a slashed carbon emission intensity, the guidelines said.

According to the guidelines, energy and resource utilization efficiency in key industries and for key products is expected to reach an internationally advanced level by 2035, and the goal to build a beautiful China will be basically achieved.

The document outlines key measures to meet the targets, including developing green and low-carbon production, consumption and circulation systems. China has announced that it will strive to peak carbon dioxide emissions by 2030 and achieve carbon neutrality by 2060.

Cross-border investments

China is expected to achieve a breakthrough this year that would permit personal investment in securities and insurance products overseas and encourage two-way capital flows across the country’s borders.

The experts also hinted at the possibility of further removing limits on personal cross-border investment, Ye Haisheng, director of the Capital Account Management Department at the State Administration of Foreign Exchange (SAFE), wrote in an article published by China Forex magazine,