Why this is important to Wisconsin businesses: Opportunities for Wisconsin companies

Ten Chinese ministries including the National Development and Reform Commission, the Ministry of Finance, the Ministry of Environment Protection and the Ministry of Commerce recently issued joint guidelines on promoting green consumption, aiming to encourage green consumption, protect the environment and boost sustainable development.

China will continue to promote the consumption of green products, including the use of energy-saving products, and will increase its support for alternative energy vehicles. Energy-efficient appliances are expected to account for at least 50 percent of market share by 2020, and alternative energy vehicles to account for more than 30 percent of new vehicles bought by public agencies in 2016 and to be widely used nationwide by 2020.

China plans to expand the green consumption market by speeding up the flow of green products; supporting the green wholesale market, green shopping malls, supermarkets and water-saving supermarkets; and providing matchmaking between distribution companies and green products providers. In addition, the government plans to improve rural consumer infrastructure and sales networks, provide green products for rural areas through e-commerce business platforms, and expand the rural consumer market of green products.

China also plans to fully implement green office and public buildings standards, as well as to increase investment in research and development for the manufacturing of green products and services to accelerate the transformation of advanced technology into application. The country’s economic policies will be targeted to promote the development of green industries, and new incentives will be introduced to encourage green consumption.

China’s efforts to boost green consumption and create a low-carbon economy will produce large investment requirements and enormous business opportunities in related industries.