Chinese environmental protection equipment output to hit 1t yuan by 2020

BEIJING - China aims to boost its output of environmental protection equipment manufacturing industry to 1 trillion yuan (about $151 billion) by 2020, according to the Ministry of Industry and Information Technology (MIIT).

The goal was set in a guideline issued by the MIIT Tuesday. It expects the industry to complete an innovation-driven development system by 2020, by enhancing its supply efficiency and market share.

Major fields targeted by the guideline include air and water pollution control, as well as treatment for soil contamination and solid waste.

Manufacturers should accelerate technological research to develop key pollution control equipment and materials, especially in the sectors of steel, chemical, non-ferrous metal and construction materials, the guideline said.

The manufacturing process must be smarter and greener, with the Internet of Things, robots and intelligent solutions widely applied in the environmental protection equipment industry.

The guideline also encouraged manufacturers to further improve their products and to strengthen branding to bring more added value to environmental protection equipment.

Industrial clusters with both leading and small-scale companies will be established. The industry also requires integrated development with the internet and the service sector, the guideline said.

It highlighted fiscal and financial support for the sector, including tax breaks and other financing instruments such as green credit and green bonds.

Third-party agencies are also encouraged to play their role in setting standards and monitoring the industry, the guideline said.

In 2016, the market value of Chinese environmental protection equipment manufacturing doubled to 620 billion yuan, compared with 2011, MIIT data showed.