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Live Trading News > Blog > Asia > China > Inside China’s Green Initiative
China

Inside China’s Green Initiative

Shayne Heffernan Ph.D.
Last updated: March 7, 2021 10:42 pm
Shayne Heffernan Ph.D.
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As China enters a new development stage, different regions and sectors across the country are gearing up to improve the quality of development in the world’s second largest economy.

Joining panel discussions during China’s ongoing Two Sessions, President Xi Jinping underscored several key words crucial for the development in the coming years: new development paradigm, green transformation, people-centered philosophy and high-quality development.

CGTN: China gears up for people-centered, green, high-quality development
CGTN: China gears up for people-centered, green, high-quality development

These words are important concepts featured in China’s latest development blueprint – the draft Outline for the 14th Five-Year Plan (FYP) (2021-2025) for Economic and Social Development and Long-Range Objectives through the Year 2035, which is under review at the fourth session of the 13th National People’s Congress (NPC), China’s top legislature.

New development paradigm

Xi, also general secretary of the Communist Party of China (CPC) Central Committee and chairman of the Central Military Commission, called on north China’s Inner Mongolia Autonomous Region to serve and integrate into the country’s new development paradigm on Friday.

Joining discussions with fellow lawmakers from the region, he called for efforts to build Inner Mongolia into a national base for key energy and strategic resources, a production base for agriculture and animal husbandry, and a gateway for northward opening-up.

Xi said Inner Mongolia should find its role in the country’s establishment of the new development paradigm of “dual circulation,” in which the domestic and overseas markets reinforce each other, with the domestic market as the mainstay.

Green transformation

Inner Mongolia should strive to step up green transformation of key industries and areas, foster cleaner production and accelerate green and low-carbon development, President Xi said, urging efforts to promote the smart and green development of related sectors toward the higher end.

Green development was also a main topic during Xi’s discussion with lawmakers from northwest China’s Qinghai Province on Sunday. He said Qinghai should prioritize ecological protection, promote high-quality development and create high-quality life for the people, calling on the province to make new achievements in protecting the ecology in the Qinghai-Tibet Plateau and advancing sustainable development.

Xi encouraged Qinghai to intensify efforts to build a world-class salt lake industrial base and foster an economic system featuring green, low-carbon and circular development. 

Qinghai has great responsibilities for China’s ecological security and the sustainable development of the nation, he said, urging the province to protect Sanjiangyuan — the “source of three rivers,” including the Yangtze, the Yellow and the Lancang rivers. 

China has pledge to have carbon dioxide emissions peak before 2030 and achieve carbon neutrality before 2060.

People-centered philosophy

A people-centered philosophy of development has been emphasized in the CPC Central Committee’s proposals for formulating the 14th FYP and long-range goals. The country will promote common prosperity for everyone and make sure that its development is for the people and by the people, and its fruits shared by the people.

President Xi reiterated the concept during the panel discussion with deputies from Qinghai, saying that regions across China should adhere to a people-centered philosophy of development and pursue innovative, coordinated, green, open and shared development.

He urged the Qinghai provincial government to boost employment and improve public services such as education, social security, healthcare, nursing and housing.

He also called on Inner Mongolia and Qinghai to consolidate achievements in the fight against poverty and advance the strategy of rural vitalization.

At a joint group meeting of national political advisors from the education, medical and health sectors on Saturday, Xi stressed giving “strategic priority” to safeguarding people’s health and building a high-quality and balanced basic public education service system.

The meeting was held during the fourth session of the 13th National Committee of the Chinese People’s Political Consultative Conference, the country’s top political advisory body.

Xi commended health workers for “putting up an iron wall” against COVID-19 at a critical time and called for reforming and improving the disease prevention and control system.

High-quality development

On Saturday, President Xi mentioned the word “high-quality” several times during his discussion with the national political advisors.

China’s public health protection network should be fortified and efforts should be made to promote the high-quality development of public hospitals, he said, demanding comprehensive healthcare for the people at all stages of life.

On education, he said the country must strive to build a high-quality and balanced basic public education service system. He also called for efforts to train more talents who can contribute to China’s high-quality development and high-level self-reliance.

Xi summarized the importance of high-quality development on Sunday, describing it as the theme of China’s economic and social development in the 14th FYP period and beyond.

Different regions should find paths of high-quality development suited to their conditions and take concrete actions to improve people’s livelihood, he added.

https://news.cgtn.com/news/2021-03-07/China-gears-up-for-people-centered-green-high-quality-development-YrttpZd5pm/index.html

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By Shayne Heffernan Ph.D.
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Shayne Heffernan Ph.D. Economist at Knightsbridge holds a Ph.D. in Economics and brings with him over 40 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reach a peak market cap of $15b. He has managed and overseen start ups in Crypto, Mining, Shipping, Technology and Financial Services.
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