China's Central Economic Work Conference shows it will continue green transformation
China’s annual Central Economic Work Conference was held in Beijing from December 11 to 12. The conference decided priorities for the economic work in 2025.
So, what did the conference mention regarding green transformation? I found the following things in the official press release about the meeting.
Among the nine key tasks the meeting determined to be carried out well next year, the eighth was about green transformation. It is translated as follows:
“Eighth, we will promote carbon reduction, pollution reduction, expanding vegetation area, and green growth in a coordinated manner, and accelerate the comprehensive green transformation of economic and social development. We will further deepen the reform of the ecological civilization system. We will create a healthy development ecology for green and low-carbon industries, and cultivate new growth points such as green buildings. We will promote the landmark battles of the "Three Norths" project to achieve important results, and accelerate the construction of the "sand-desert-barren land" new energy base. We will establish a number of zero-carbon industrial parks, promote the construction of a national carbon market, and establish a product carbon footprint management system and a carbon labeling certification system. We will continue to deepen the battle to protect blue skies, clear waters and clean soil. We will formulate an action plan for comprehensive solid waste management. We will implement major biodiversity protection projects. We will strengthen the construction of a natural disaster prevention and control system.”
(八是协同推进降碳减污扩绿增长，加紧经济社会发展全面绿色转型。进一步深化生态文明体制改革。营造绿色低碳产业健康发展生态，培育绿色建筑等新增长点。推动“三北”工程标志性战役取得重要成果，加快“沙戈荒”新能源基地建设。建立一批零碳园区，推动全国碳市场建设，建立产品碳足迹管理体系、碳标识认证制度。持续深入推进蓝天、碧水、净土保卫战。制定固体废物综合治理行动计划。实施生物多样性保护重大工程。加强自然灾害防治体系建设。)
The other 8 tasks are:
To vigorously boost consumption, improve investment efficiency, and expand domestic demand in all directions.
(大力提振消费、提高投资效益，全方位扩大国内需求。)
To lead the development of new productivity with scientific and technological innovation and build a modern industrial system.
(以科技创新引领新质生产力发展，建设现代化产业体系。)
To give full play to the leading role of economic system reform and promote the implementation of landmark reform measures.
(发挥经济体制改革牵引作用，推动标志性改革举措落地见效。)
To expand high-level opening up, stabilize foreign trade and foreign investment.
(扩大高水平对外开放，稳外贸、稳外资。)
To effectively prevent and eliminate risks in key areas, and firmly hold the bottom line of no systemic risks.
(有效防范化解重点领域风险，牢牢守住不发生系统性风险底线。)
To coordinate the promotion of new urbanization and comprehensive rural revitalization and promote the integrated development of urban and rural areas.
(统筹推进新型城镇化和乡村全面振兴，促进城乡融合发展。)
To intensify the implementation of regional strategies and enhance the vitality of regional development.
(加大区域战略实施力度，增强区域发展活力。)
To increase efforts to protect and improve people's livelihood, and enhance people's sense of gain, happiness and security.
(加大保障和改善民生力度，增强人民群众获得感幸福感安全感。)
Putting “We will promote carbon reduction, pollution reduction, expanding vegetation area, and green growth in a coordinated manner, and accelerate the comprehensive green transformation of economic and social development” along with the other 8 key tasks, shows the emphasis of the Chinese government on these aspects.
I think if we want to build an ecological civilization that people and people live in harmony, the 9th key task are meaningful. The full translation follows:
“Ninth, we will increase efforts to protect and improve people's livelihood, and enhance people's sense of gain, happiness and security. We will implement employment support plans for key areas, key industries, urban and rural grassroots and small and medium-sized enterprises, and promote employment for key groups. We will strengthen the protection of the rights and interests of workers in flexible employment and new employment forms. We will implement industrial and employment support policies to ensure that there is no large-scale return to poverty and ensure the basic living of people in difficulties. We will promote the high-quality and balanced development of compulsory education, and steadily advance the expansion of high-quality undergraduate education. We will implement the medical and health foundation strengthening project and formulate policies to promote fertility. We will develop community-supported home-based elderly care and expand inclusive elderly care services. We will adhere to and develop the "Fengqiao Experience" in the new era and strengthen the governance of the public security system.”
(是加大保障和改善民生力度，增强人民群众获得感幸福感安全感。实施重点领域、重点行业、城乡基层和中小微企业就业支持计划，促进重点群体就业。加强灵活就业和新就业形态劳动者权益保障。落实好产业、就业等帮扶政策，确保不发生规模性返贫致贫，保障困难群众基本生活。推动义务教育优质均衡发展，扎实推进优质本科扩容。实施医疗卫生强基工程，制定促进生育政策。发展社区支持的居家养老，扩大普惠养老服务。坚持和发展新时代“枫桥经验”，加强公共安全系统施治。)
“Fengqiao Experience” refers to “Fengqiao Model” to solve disputes within the community. An article in Qiushi explains it.
Besides these two key tasks, the press release of the conference also mentioned the following things that I think are important to green transformation:
It says “We need to use a combination of policies. We need to strengthen the coordination and cooperation of fiscal, monetary, employment, industrial, regional, trade, environmental protection, regulatory and other policies and reform and opening-up measures, improve the effective communication, consultation and feedback mechanism among departments, and enhance the policy synergy. " Environmental protection” is included, and is put at the same status with fiscal, monetary, employment, industrial, regional, trade, and regulatory.
(要打好政策“组合拳”。加强财政、货币、就业、产业、区域、贸易、环保、监管等政策和改革开放举措的协调配合，完善部门间有效沟通、协商反馈机制，增强政策合力。)
China aims to push forward the development of new productivity with scientific and technological innovation, (以科技创新引领新质生产力发展)， instead of old traditional industrial development. In the related part which is the 2nd key task, it mentions “We will actively use digital technology and green technology to transform and upgrade traditional industries.” (积极运用数字技术、绿色技术改造提升传统产业。)
In the 4th key task which talks about trade, it says “Actively develop trade in services, green trade, and digital trade.” (积极发展服务贸易、绿色贸易、数字贸易。) This is an obvious transformation from traditional manufacturing-based goods trade.
We can expect that China will continue the green transformation in 2025. The policy signals in this Central Economic Work Conference shows the policy does not change.