China on fast track to cut energy consumption intensity
China has outpaced many other nations in the production and sale of new-energy vehicles for six straight years. It has also topped the world in the output of some major products for photovoltaic power generation over the past eight years.
Dedicated government support on green finance and the carbon market will help boost energy efficiency, catalysing the clean-energy transition.
In the finance sector, China has increased green-finance support and improved the top-level design of green finance. It has set up nine pilot zones for the reform and innovation of green finance in six provincial-level administrative units.
The carbon market provides an effective approach to managing the relationship between economic development and the reduction of carbon emissions. The national carbon emissions trading market is a major institutional innovation that uses market mechanisms to control and reduce greenhouse gas emissions and promote green and low-carbon development.
