China reaffirms commitment to green development

• Thursday, May 14, 2020
• Source:ferro-alloys.com

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• Keywords:coal production cut

[Ferro-Alloys.com] The path of green development is vital to the country's economy and people's wellbeing. Provinces such as Shanxi have been rewarded by the environment as the ecological protection work is taking effect.

 

Vigorously promoting a greener economy, Shanxi, the coal-rich province, cut 27.45 million tonnes of coal production capacity and saw a GDP growth higher than the country's average level in 2019.

 

Last year, the province planted about 347,333 hectares of trees, and the groundwater level continued to rise in the Fenhe River valley.

 

Apart from supporting major environmental projects, China also resorted to having an environmental economic policy to steer businesses toward sustainable growth, unveiling a plan in December to establish a national green development fund in 2020.

 

The country's green finance, an emerging environmental economic policy tool, has seen rapid expansion in recent years. In 2019, its green bond issuance topped 30 billion US dollars, ranking second in the world, data from Bloomberg showed.

 

Souece: Xinhua

 

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