China to establish ecological product value-realization mechanism

BEIJING -- China has issued a guideline on setting up and improving the mechanism to realize the value of ecological products amid its environmental protection and green development efforts.

The country vows to establish a basic policy framework for value realization of the products by 2025, according to the guideline jointly issued by the General Office of the Communist Party of China Central Committee and the General Office of the State Council.

Problems related to measuring, mortgages, transactions, and value realization of ecological products will be effectively solved by 2025, and an interest-oriented mechanism for environmental protection will take a basic shape.

A sound mechanism for realizing the value of the products will be formed by 2035, and green production and a green way of life will be widely adopted in the country, said the guideline.

Measures will promote the trading of rights and interests related to ecological resources, such as improving the carbon-trading schemes, piloting carbon emissions trading, and fine-tuning the system for paid use of pollutant discharge rights.

The guideline also stressed more support for green finance, encouraging banks to increase medium- and long-term loan support for entities managing or developing ecological products and reduce financing costs reasonably.