China will increase the share of green trade in its overall foreign commerce as part of efforts to accelerate its shift toward a sustainable growth model and upgrade industrial chains. The Ministry of Commerce (MOFCOM) issued a guideline for expanding green trade on October 30. The policy document states China will explore new trade models involving remanufactured products and help companies better leverage preferential arrangements under existing free trade agreements to deepen cooperation in green and low-carbon sectors. Green trade refers to international trade activities that support environmental protection, sustainable growth and the low-carbon transition by promoting the exchange of environmentally-friendly goods and services such as renewable energy products, electric vehicles, energy-saving equipment and green technologies, according to the General Administration of Customs (GAC) .
Li Chenggang, China International Trade Representative, said China will broaden imports and exports of green and low-carbon products and technologies, including developing trade in sustainable fuels such as green hydrogen. The government will refine standards and management measures for the import of recycled resources, and deepen cooperation with countries and regions participating in the Belt and Road Initiative (BRI) in the green and low-carbon fields, said Li, who is also Vice Minister of Commerce. “China will also enhance policy support and services for foreign-invested enterprises engaged in green trade and sustainable industries,” he added.
Wang Peng, Director of the Energy Saving and Comprehensive Utilization Department at the Ministry of Industry and Information Technology (MIIT), said that by promoting green design and advancing green manufacturing, more environmentally-friendly products can be developed, accelerating the green transformation of industries and injecting new momentum into the expansion of green trade. The MIIT will focus on developing green products, such as green home appliances and green building materials, while vigorously fostering sectors such as new energy vehicles (NEVs) and energy-saving and environmental protection equipment, said Wang.
China’s exports of wind turbines and related components grew by more than 30% in the first three quarters of this year, while exports of photovoltaic products have exceeded CNY200 billion for four consecutive years. China’s exports of electric vehicles surpassed 2 million units for the first time in 2024 and its shipments of green transportation equipment such as electric locomotives, motorcycles and bicycles have also maintained robust growth, the China Daily reports.
