China introduces national standard for valuing terrestrial ecosystems

BEIJING -- China has released a national standard to scientifically quantify the economic value generated by its terrestrial ecosystems, the State Administration for Market Regulation announced Tuesday.

The newly implemented guideline for the standard establishes a unified methodology for calculating the monetary value of all ecological products supplied by terrestrial ecosystems within a specific region and period. It serves as a key indicator for assessing ecosystems' contribution to economic and social development.

The standard details the technical processes, indicator and method systems, and sets requirements for the use of foundational data as well as the preparation of final reports.

Designed to be scientific, systematic and practical, the standard offers whole-process technical guidance to standardize these valuations, according to the market regulator.