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January 7, 2019

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Going green is seen as China’s new way to go

Source: Xinhua | 00:07 UTC+8 January 7, 2019 | Print Edition

China’s green sector is attracting growing investment as the country strives to balance economic development and environmental protection.

Data from the National Bureau of Statistics showed investment in the environmental sector surged 42 percent year on year in the first 11 months of 2018, up 5.3 percentage points from the January-October period.

China National Machinery Industry Corporation Ltd (Sinomach), a state-owned machinery conglomerate, is targeting green areas such as the production of equipment related to environmental protection and core components of new energy vehicles, says Sinomach General Manager Zhang Xiaolun.

“I believe green manufacturing will accelerate the transformation and upgrading of China’s manufacturing industry, improve its core competency and facilitate its sustainable development,” he told a recent forum.

Energy enterprises are also on the move. As China begins exploiting its abundant geothermal resources and clean and sustainable energy, Sinopec Green Energy Geothermal Development Co Ltd is expanding its services.

The company now provides geothermal heating for an area of around 50 square kilometers, and it aims to increase that by 100 square kilometers by 2023, says Chen Menghui, deputy general manager.

“Local governments are very willing to cooperate with us, given the mounting pressure of environmental protection,” Chen said, noting that Hebei Province, which neighbors Beijing and faces a heavy task in reducing air pollution, is the company’s biggest market.

The recycling industry is booming, too, with more enterprises investing in transforming waste, including steel, and plastics, into renewable resources by using new technologies.

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