Bìznes Inform (Sep 2023)
The Features of the Development of the Green Economy of the People’s Republic of China
Abstract
The article is aimed at assessing the current state of development of the green economy of China and providing recommendations for the development of the economy of such kind. As a result of the study, the definition of the «green economy» was analyzed, information was collected on the origins and development of the conception of the green economy, which covers economic, environmental, and social factors. The place of the People’s Republic of China among the selected countries (Canada, the USA, Germany, Japan, Turkmenistan, Ukraine) according to certain indicators of the green economy, in particular: CO2 emissions, the use of renewable energy sources, research and development costs, air pollution called PM2.5, total greenhouse gas emissions were substantiated. The article also compares the indicators of the green economy in the PRC with the average for all countries of the world. Recommendations for further development of the green economy in the PRC are provided, in particular, it concerns: increasing the volume of construction of environmental protection infrastructure and improving the environmental protection system; increasing investment in education and focusing on human capital; strengthening financial support for the green economy; improvement of the mechanism of patenting inventions and transformation of scientific and technological achievements; combination of the economic and the green development; deepening reforms and opening up to improve the quality of foreign investment. Prospects for further research in this direction are the assessment of the green economy of the PRC in the regional context on the basis of entropy along with systematization of existing indicators, as well as the construction of an own system of indices to assess the level of development of the green economy. Based on the calculated results of the assessment, it would be advisable to provide appropriate policy recommendations for each region of China in order to further develop the green economy.
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