Green development to play key role in supply side reforms

On January 5, at a symposium to discuss improving Yangtze River Economic Belt development in southwest China's Chongqing Municipality, Chinese President Xi Jinping stressed that development must prioritize ecology for China's long-term benefits. Economic and social benefits can be obtained from our mountains and rivers.

The Central Economic Work Conference had stressed to promote supply-side reforms and green development so as to boost efficiency and maintain a sustainable and healthy economic growth. The meeting also offered in-depth analysis of the contradiction between low-end productivity and diverse demands which hinders the economic development.

Beijing has proposed the supply-side reforms with expansion of effective supply as its fore. Green development stands for high-quality, efficiency, green production, and green consumption. It is expected to play an important role in China's economic reforms and development for a period of time.

It is one of the five development concepts of innovation, coordination, green development, opening-up and sharing put forward at the 5th Plenary Session of the 18th CPC Central Committee. Beijing is moving forward on strategic opportunities, despite facing numerous challenges.

While upholding the development concepts, Beijing is also doubling its efforts to promote the economic, political, cultural, social, ecological civilization construction and party building, reflecting the CPC's determination to achieve high quality development.

It's imperative to endorse ecological civilization development to improve production methods, standard of living, and enhance a healthy ecology in accordance with the "five in one" layout. Green development favors scientific development.

It adheres to harmony between humanity and nature. The eco-friendly concepts promote development without harming the environment, but do enhance sustainable development.

Mistakes do occur when contamination has taken place in some countries, which could have been avoided. Nevertheless, people can overcome such difficulties and gain valuable wisdom to prevent repeated mistakes.

China has made remarkable progress towards sustainable development by taking effective measures to control pollution and emissions by strengthening environmental supervision, law enforcement, eliminating backward production, and controlling emissions from factories.

It is urgent to combat air, soil and water pollution for long-term development. It is necessary to carry out stringent environmental protection standards on new projects and investments.

It's time to increase pollution controls, to accelerate research and development (R&D) on new eco-technologies, upgrade new pollution control methods, new clean energy, and to develop more high-quality and environmentally friendly products.

Additionally, support the guiding role of market regulations to promote green development.

To take full play of the resource taxes, emissions rights and other market regulation methods that direct capital into technology-resource-savings and eco-friendly industries.

Guide market players to utilize scientific production methods, force backward productive forces to fade away, and form green consumption patterns and lifestyles.

Such development is an important path to build an ecological civilization to maintain sustainable and long-term development momentum. Accordingly, green development can play a pivotal role to promote China's economic supply side reforms.

the author is Doctor of Economics, Ministry of Civil Affairs