China launches measures to promote development of green electricity certificate market

China on Tuesday rolled out 17 measures to promote the high-quality development of its renewable energy green electricity certificate (GEC) market, aiming at addressing the key problems of the country's clean energy industry.

The measures were announced in a document jointly released by the National Development and Reform Commission, the National Energy Administration (NEA), and other competent departments.

They target issues such as insufficient demand in the GEC market and the underestimated environmental value of green electricity.

The measures will also help build a GEC consumption mechanism that combines both compulsory and voluntary consumption, according to the document.

GECs are the sole proof of the environmental attributes of renewable energy power in China and serve as the only certificate for verifying renewable energy production and consumption.

China will steadily promote GEC compulsory consumption in accordance with the law, and gradually raise the consumption ratio of green electricity and verify it with GEC, said the released document. "In principle, by 2030 the green electricity consumption ratio should not be lower than the average level of national total renewable energy electricity consumption responsibility weight. In particular, the green electricity consumption ratios at the newly constructed data centers in national hub nodes should be further enhanced beyond the level of 80 percent. Meanwhile, efforts will be made to construct a batch of green factories and industrial parks that have high green electricity consumption ratios. Green electricity consumption data will also be incorporated into the ESG (environmental, social and governance) reports of listed companies," said Pan Huimin, deputy director of NEA's New Energy Department.

The document also said green electricity consumption ratio will be required on enterprises and data centers in steel, building materials, and chemical industries, as well as other key energy-consuming industries and institutions.

"This year, we plan to raise green electricity consumption ratio requirement on more industries and also require them to use GEC in accounting electricity consumption. Requirements will be implemented to achieve comprehensive transition from controlling the total amount and intensity of energy consumption to controlling the total amount and intensity of carbon emissions. On the basis of using GEC to conduct the calculation of this year's energy efficiency evaluation and assessment, we will also study how to include GEC into the evaluation of controlling the total amount and intensity of carbon emissions," said Li Chuangjun, director of NEA's New Energy Department.

China launches measures to promote development of green electricity certificate market

Spanish students have expressed their expectation that a healthy China-U.S. economic and trade relationship will inject greater stability into the global economy and create greater opportunities for Spain.

On Sunday, Chinese and U.S. delegations convened in Paris, France for talks on economic and trade issues. Guided by the consensus reached by the two heads of state in Busan and their subsequent phone talks, the two sides will conduct consultations on economic and trade matters of mutual concern.

Ahead of the talks, members of the public in Madrid, Spain, shared their views on China–U.S. economic and trade relations with China Media Group (CMG). They agreed that reaching an agreement between the world’s two largest economies would have a direct impact on the global landscape.

"They are the two countries that contribute the most economically, in a manner of speaking, to the rest of the countries. They are major importers and exporters. So I think that a satisfactory relationship between them can be very beneficial for all other countries," said Claudia, an engineering student.

Noting that both sides are important trading partners of Spain, the interviewees stated that a healthy, stable and sustainable China-U.S. economic and trade relationship also affects various aspects of the Spanish society, and that agreements between the two countries would help promote Spain's economic growth.

"I do think that it could have a certain effect on the Spanish economy, both in terms of prices, and I would dare say employment as well. Because I think that if those two great powers reach an agreement, Spain could also get in on the action. It would create quite a few jobs in Chinese and American multinationals for all Spaniards," said Claudia.

"Spain is caught in the middle; it has good relations with both the U.S. and China. If it gets on the bad side of either one, it could be hit hard, because Spain mainly relies on tourism -- well, other things too, but essentially tourism, construction and agriculture. It's very important to have more help and trade with all countries around the world," said Denis, a law student.

Spanish students say stable China-US ties benefit global economy