A total of 10,000 tons of carbon emission quotas have recently been traded under a new electronics recycling project, marking the first deal completed after the project that offers carbon-offset credits to buyers was launched early April.
Launched in Hangzhou City, east China's Zhejiang Province, the project recovers key resources from used electronic products, thus contributing to the creation of a circular economy and generating valuable secondary materials.
According to the China National Resources Recycling Association, the transaction was carried out between an ecological technology company in Zhejiang and Chinese PC giant Lenovo group.
Under the project, recycling companies like the former generate carbon emission credits by dismantling and processing electronic waste, while the latter, as an electrical and electronic product manufacturer, offsets the carbon emissions in its production process by purchasing carbon emission quotas.
"We set a price for 10,000 tons of carbon emission credits for the first time as we are piloting the program. The demand for carbon emission credits will definitely increase in the future. With the implementation of the trade-in policy, the amount of scrapped home appliances will increase significantly later his year, and the supply for dismantling companies like us will become more and more abundant, bringing stable profits for us," said Qiang Yi, general manager of Shengtang ecological technology company in Zhejiang.
As of the end of 2023, similar recycling plants across China have in total obtained over 7.5 million tons of recycled resources from dismantled electronics.
10,000 tons carbon emission credits traded under electronics recycling project
On his second official visit to China, Prime Minister of the Republic of Vanuatu Charlot Salwai expressed admiration for China's remarkable ability to balance preserving its cultural heritage with embracing innovative transformation.
Salwai paid an official visit to China from July 7 to 12. During his trip, he toured the southern province of Guangdong and explored the megacities of Beijing and Shanghai. His visit included tours of high-tech companies, a ride on a high-speed train, and a performance of traditional Cantonese opera.
In an interview with China Central Television Network (CCTV) aired on Friday, Salwai recounted his journey starting with a warm welcome that included enjoying Beijing Roast Duck, also known as Peking Duck -- a culinary delight introduced to him by the Chinese ambassador in Vanuatu.
"Many had to say. Peking Duck. Because we had it here on our arrival, so it was very tasty. And I understand that the Chinese ambassador in Vanuatu brought us to one of the traditional restaurants, small but beautiful," he said. The prime minister sees China's preservation of its culture as a vital lesson in understanding one's roots and the journey to the present day, acknowledging China's efforts to integrate cultural preservation with modernization.
"It's going to be my second official visit to China. I'm always impressed to see big changes and especially innovations made by China and especially the cities. Because a big impression is to see how China continues to maintain and keep its culture. Because I think it's the basis of everything -- to know where you come from and to understand where we are today. I feel that China is doing a lot to maintain its culture, but at the same time, doing, innovating to transform its culture,” Salwai said.
He also emphasized the importance of learning from China's sustainable development strategies.
"Today, it comes from a long way, some hardship, the government, and also the people of China. So, I'm impressed to see what is done, especially how China associates infrastructure development with nature. That's meant to keep, continue to keep the environment. It takes effort with the climate change by maintaining the ecosystem. I think it's something that, for a small country like Vanuatu, is important to learn. So, we are here. I'm here with my delegation to learn," Salwai said.
Vanuatu's PM commends China's cultural preservation, innovation amid fast growth
