Many business owners struggle with balancing the development of a profitable product or service with taking care of the earth. And in some international business endeavors, you might find different definitions of what encompasses “going green.”
If you are committed to conducting business in an eco-friendly manner, you might be interested in the dedicated efforts taking place throughout China. Through the release of China’s new Green Industries Guidance Catalogue, you can gain an understanding of the country’s plans to increase sustainability in the world’s largest market of earth-friendly goods and services.
Chinese Ministries are working together to increase the green industry
Goldman Sachs estimates China’s market for green goods and services to be a $1 trillion opportunity. In March, seven Ministries, which included the Ministry of Ecology and Environment, National Development and Reform Commission and People’s Bank of China met. Together, they examined the key aspects related to the green industry.
The Ministries established plans to:
- Develop financial and regulatory infrastructure for promoting investment in the green industry
- Support the green sector by creating plans to develop and increase growth
- Define “green” in relation to determining standards
And new policies, in combination with a continued push for environmentally-friendly development, could increase the chances of China’s leadership in increased standards for exported goods.
The country’s leaders are dedicating a tremendous amount of focus to improving clean production, waste management and renewables. If you seek to move forward with international business while maintaining sustainability, numerous opportunities in China may be of interest.