China moves to boost green, low-carbon development of private sector

BEIJING, March 26 -- China's Ministry of Ecology and Environment said it will deepen cooperation with financial regulators and institutions to jointly advance the green and low-carbon development of private enterprises.

The remarks were made by Minister of Ecology and Environment Huang Runqiu at a recent symposium focused on facilitating the green and low-carbon development of China's private sector.

Efforts will be made to further ensure the effective operation of the national carbon market and national trading market for voluntary greenhouse gas emission reduction, and help private enterprises turn surplus carbon emission allowances into assets, while accelerating the market-driven phasing-out of outdated production capacity, according to the ministry.

The ministry will also improve the use of fiscal capital, channeling more resources toward key areas such as air, water and soil pollution control, as well as rural environmental governance.

Huang also stressed the need for ecological and environmental authorities to enhance information-sharing and coordination with financial regulators, to better guide financial resources to support the green and low-carbon transition of private enterprises.