CCTV:

In recent years, green industries have attracted wide attention and become a new driving force in economic growth. What measures has China taken to develop green industries, and how are they going so far? Thank you. 

Zhao Chenxin:

Thank you for your questions. To vigorously develop green industries and cultivate a new, green driving force in development is an important approach to accelerating the transition to a green development model. In the past decade, various localities and departments across China have worked on resource conservation and environmental protection, which have in turn promoted the development of green industries. Here are some facts about our progress: 

First, we have strengthened ecological and environmental protection and created massive market demand. Since the 18th National Congress of the Communist Party of China, we have made solid gains in the battle against pollution, enhanced ecological protection and restoration, promoted the green transition of traditional industries and upgraded them, and vigorously developed clean energies, providing key development opportunities for green industries. With the rollout of policies aimed at carbon emissions peak and carbon neutrality, green industries have grown at an even faster pace. In recent years, the output of energy conservation and environmental protection industries and new energy industries has grown at an annual average rate of over 10%, with China leading the world in the manufacture of clean energy-generation facilities. And as Minister Xin just said, China's output and sales of new energy vehicles have topped the world for eight consecutive years. 

Second, we have utilized all kinds of policy tools to incentivize and encourage the development of green industries. With the use of fiscal policies, tax, price, and other measures, various departments have worked together to support the development of green industries. In the past 10 years, more than 100 billion yuan in central government budget has been allocated to support the construction of environmental infrastructure. During the 13th Five-Year Plan period (2016-2020), the central government allocated nearly 200 billion yuan in ecological protection subsidies annually. More than 50 tax and fee preferential policies have been implemented, and the resource and environment pricing mechanism has been constantly improved. We have also set up a system of green product assessment standard, ramped up green government procurement, and encouraged the consumption of green products. 

Third, we have strengthened innovation in green technologies and promoted the industrial application of green technologies. China has constantly ramped up sci-tech innovation. At the end of 2021, the number of in-force invention patents in China's energy conservation and environmental protection industries and new energy industries stood at 49,000 and 60,000, respectively, which were 1.6 and 1.7 times from the end of 2017, demonstrating relatively rapid development. A green technology equipment manufacturing system covering energy conservation, water conservation, environmental protection, renewable energy, and other areas has been formed. In addition, technologies in new energy, pollution control, and environment monitoring have become advanced by international standards, and technologies have increasingly led the development of industries. 

Fourth, we have robustly developed green finance to provide financial support for green industries. We have improved green finance policies and promoted the establishment of a multilevel green finance product and market system. At the end of 2021, China's green loan balance in RMB and foreign currencies stood at 15.9 trillion yuan, and its outstanding green bonds stood at 1.1 trillion yuan, both ranking among the largest in the world.

Green industries have become a new driver of economic growth and are demonstrating their sound momentum. The development of green industries requires attention and support from all sides. From the government side, we will ramp up policy guidance and promotion and keep lending support to green industries in order to promote their sound and sustained development. Thanks.