Interview: China's green and low-carbon economy has broad prospects to boost the global emission reduction process - Interview with Liu Jin, Vice President of Cheung Kong Graduate School of Business

Xinhua News Agency, Beijing, August 21 Interview: China's green and low-carbon economy has broad prospects and boosts the global emission reduction process - Interview with Liu Jin, Vice President of Cheung Kong Graduate School of Business

Xinhua News Agency reporter Wang Jiawei

Liu Jin, professor and vice dean of Cheung Kong Graduate School of Business, said in a telephone interview with Xinhua News Agency a few days ago that as an important part of the energy revolution, China's new energy industry is developing rapidly, releasing positive signals to the global green and low-carbon industry and boosting the international process of reducing carbon emissions.

Liu Jin said that in recent years, the world is setting off a new energy revolution. The consumption of non-renewable energy has declined, and the proportion of renewable energy such as photovoltaics, wind energy, and hydropower has gradually increased。

A recent report released by the International Energy Agency shows that many countries are transitioning to clean energy at different depths and speeds, striving to achieve zero carbon emissions. Bloomberg New Energy Financial Analysis, in the next 30 years, fossil fuels or will be replaced by renewable energy, green and low-carbon industry market prospects can be expected.

Liu Jin believes that China has accelerated its transition to a green, low-carbon and sustainable economic development, and has put forward the commitment to strive to peak carbon dioxide emissions by 2030 and strive to achieve carbon neutrality by 2060, and is at the forefront of the low-carbon era.

He said that China's development of green and low-carbon industries represented by new energy has dual advantages. From the supply side, China is rich in production capacity in wind energy, photovoltaic, battery manufacturing and other fields, and is in a leading position in the world. In recent years, China's photovoltaic products have been exported to more than 200 countries and regions, and wind power manufacturing accounts for more than 40% of the total global output. At the same time, China has the world's largest lithium battery production plant. From the application side, new energy vehicles are in a period of explosive growth, and the dividend may last for 20 years. China is a big producer of new energy vehicles and has a broad consumer demand, and the market size is rising year by year.

Liu Jin believes that vigorously developing the new energy automobile industry, attracting global new energy technology, capital and talents, and driving independent innovation in the industry is expected to break the monopoly of traditional automobile core technologies and achieve industrial technology breakthrough and competitiveness.

In his view, China's continuous expansion of opening up, vigorously promoting the transformation of the economy to sustainable development, and continuously improving the business environment of green and low-carbon industries will help China's new energy industry "go global" and also provide opportunities for overseas related industries.

He said that the huge potential and growing consumer demand provides a broad market for related industries around the world, accompanied by corporate expansion opportunities and development dividends. In recent years, multinational parts, batteries and electric vehicle manufacturers have come to China to expand their business, or set up joint ventures with Chinese companies, and their products have gradually entered the vision of Chinese consumers.

Liu Jin believes that controlling carbon emissions and increasing the proportion of new energy in the energy structure are conducive to ensuring national energy security. In the future, reducing the cost of new energy through technological innovation and scale effects, and increasing the cost of carbon emissions through carbon trading and carbon tax governance, etc., will help promote the realization of the goal of "carbon neutrality".