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China to strengthen policy, financial support for green development of industrial sector

March 15, 2022


Abstract : Relevant departments in China are working on a plan as a solution to empower green industrial development with new-generation information technologies such as industrial internet, big data and 5G, reported Economic Information Daily on Monday.

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Intelligent robots weld bodies of cars at a new energy vehicle company in Chongqing, southwest China, April 2, 2021. (Xinhua/Huang Wei)

BEIJING, March 15 (Xinhua) -- Relevant departments in China are working on a plan as a solution to empower green industrial development with new-generation information technologies such as industrial internet, big data and 5G, reported Economic Information Daily on Monday.

The upcoming plan is guided by the requirements in the plan for green development of industrial sectors during the 14th Five-Year Plan period (2021-2025), which is issued by China's Ministry of Industry and Information Technology (MIIT) in December 2021.

Focusing on key industrial sectors including iron and steel, nonferrous metals, petroleum and petrochemical, building materials, etc., relevant parties are looking to integrate industrial internet with carbon peak and carbon neutrality goals through improving management of energy, resources and environment, as well as deepening digital application in the manufacturing processes.

Efforts of promoting green transformation in the industrial sector include issuing guiding directory for low-carbon upgrade and promoting low-carbon technologies and digital transformation in key industries and sectors, MIIT Minister Xiao Yaqing told a press conference.

A recent document released by the State-owned Assets Supervision and Administration Commission of the State Council also made it clear to promote in-depth integration of green and low-carbon industries with emerging technologies involving internet, big data, artificial intelligence and 5G.

In addition, necessary financial support should be provided to relevant projects, combined with measures such as promoting tax deduction and lowering approval threshold for green credit and green bonds, suggested Mao Tao, an MIIT official.

The MIIT has vowed to encourage and support enterprises to expand their green input, as well as to guide financial institutions toward making intensified efforts to support green and digital transformation of Chinese companies.

(Edited by Yu Huichen with Xinhua Silk Road, yhc0267@163.com)

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Keyword: green development industrial internet carbon peak and carbon neutrality

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