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China to encourage social capital in ecological protection, restoration

Updated: Nov 10,2021 19:59    english.www.gov.cn

The State Council has issued a guideline on encouraging social capital to participate in ecological development, according to a notice released by the General Office of the State Council on Nov 10.

Aimed at promoting high-quality development in ecological protection and restoration and raising supplies of quality ecological products, China will encourage and support social capital to engage in the whole process of ecological protection, including investment, design, restoration, and management, and carry out activities such as ecological product development, industrial development, sci-tech innovation, and technical services.

According to the notice, social capital can engage in ecological conservation individually, as a group or through cooperation with governments, and public welfare organizations are also welcome.

Social capital will be allowed to profit through developing industries by rights to use natural resource assets or franchise rights, making carbon sink transactions, and comprehensively utilizing resources approved by the government.

An efficient working procedure should be adopted for launching projects and formulating plans scientifically and reasonably, introducing entities through transparent competition, and regulating market trading on related products.

The circular pointed out key fields include protecting and restoring ecosystems in nature, farmlands, urban areas, mines, and oceans, and exploring and developing ecological industries.

A slew of supporting policies will be rolled out arranging various types of space within ecological protection and restoration areas and entitling a certain share of the rights to eligible entities to use natural resources and assets.

Modes such as the public-private-partnership or PPP will be explored and introduced, and financial institutions will be encouraged to participate in ecological protection and restoration projects and expand investment and financing channels.

The notice also highlighted synergy among capital and industries, setting up investment promotion mechanisms and brand-building.

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