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10,000 tons carbon emission credits traded under electronics recycling project

China

10,000 tons carbon emission credits traded under electronics recycling project
China

China

10,000 tons carbon emission credits traded under electronics recycling project

2024-04-21 21:24 Last Updated At:21:47

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

10,000 tons carbon emission credits traded under electronics recycling project

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China's service outsourcing industry reports robust expansion

2024-05-22 04:25 Last Updated At:05:37

⁠⁠⁠⁠⁠⁠⁠China's service outsourcing industry saw robust expansion in the first four months of this year, the Ministry of Commerce said on Tuesday.

Chinese firms inked services outsourcing contracts worth a total of some 781.43 billion yuan (about 110 billion U.S. dollars) in the four-month period, up 14.4 percent year on year, according to the ministry.

The executed contract value stood at 520.51 billion yuan, a year-on-year increase of 12.9 percent.

Of the total, the value of offshore service outsourcing contracts rose 8.6 percent year on year to 419.04 billion yuan.

Specifically, the value of offshore information technology outsourcing (ITO) services provided by Chinese companies jumped by 10.9 percent from a year earlier.

China's Hong Kong Special Administrative Region, the United States and the European Union ranked the top three markets in terms of the fulfilled contract value of offshore outsourcing service, accounting for 54 percent of the total.

Chinese firms undertook nearly 80 billion yuan(about 14.93 billion U.S. dollars) worth of offshore service outsourcing contracts that were fulfilled with countries participating in the Belt and Road Initiative, up 24 percent from a year ago, while the offshore outsourcing services for Regional Comprehensive Economic Partnership (RCEP) member countries totaled 73.26 billion yuan, up 16.6 percent year on year.

Outsourcing refers to hiring an outside party to carry out services or produce goods typically undertaken by in-house employees. In China, service outsourcing is typically divided into three sectors: information technology outsourcing, business process outsourcing and knowledge process outsourcing.

In the January-April period, the service outsourcing industry welcomed about 301,000 new hires, with 84.7 percent of these individuals holding a bachelor's degree or above. The sector had over 16.17 million employees at the end of April, among whom some 10.56 million were graduates with a bachelor's degree or higher.

China's service outsourcing industry reports robust expansion

China's service outsourcing industry reports robust expansion

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