China Watch #5 – The Green Transformation of China’s Economy is Steadily Advancing

China Watch Vol. 1, No. 5, November 2021, ISSN 2786-2860

 

The Green Transformation of China’s Economy is Steadily Advancing

 

ZOU Jiayi[1]

Vice Minister of the Ministry of Finance, China

 

 

The pandemic has stimulated deep reflection on humankind’s relationship with nature, while climate change and the transition to low-carbon have become important topics throughout the economic recovery process. At present, a “green recovery” has become a global consensus as well as a development trend, manifested chiefly in the following ways:

Basic clarity on the goals of green recovery. At present, 131countries around the world have proposed peak carbon and carbon neutral goals, and they will all achieve carbon neutrality by 2060. For all of them, these are solemn promises, and represent a beautiful prospect that people around the world look forward to. In June 2020, the International Energy Agency and the International Monetary Fund put forward a US$3 trillion green recovery plan, recommending that countries strive to achieve their net zero carbon emission targets.

 

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