China to Draft Law to Promote "Circular" Economy, Reduce Environmental Pressure

China's most populous nation is expected to face increasing environmental pressure unless a new law is introduced to promote a "circular" economy. Sun Youhai, an official with the Environment and Resources Committee of the National People's Congress, announced that a law to support the development of a circular economy will be drafted by the end of the year and submitted for deliberation in 2007. The aim of this new law is to help build a sound material-recycling society, echoing the international concepts of "zero-waste" economy and "green" accounting.

Key Takeaways:

• China plans to draft a law to promote a "circular" economy, which aims to reduce environmental pressure and pursue sustainable development, within the second half of 2006.
• The law will provide strong legal support for the development of the circular economy, which is a concept developed by the Chinese government and scientists.
• The circular economy concept is connected to international concepts such as the "zero-waste" economy and "green" accounting developed in other countries and endorsed by international organizations.
• Italy and China have conducted fruitful cooperation on environmental protection, with the circular economy being a key area of future cooperation.
• The Chinese government will receive support from the World Bank and Italy in developing the circular economy, which aims at efficient use of natural resources, improving management of waste, and enhancing ecological value.
• A specific activity focused on the circular economy has been established within the Italian Trust Fund for Environmental Protection in China, valued at US$8.5 million.

Statistics:

• China's population is expected to face increasing environmental pressure unless action is taken.
• The circular economy law is expected to be drafted by the end of 2006 and submitted for deliberation in 2007.
• The Italian Trust Fund for Environmental Protection in China has been established with a value of $8.5 million.

Sources:

(XIC), (no date mentioned in the source)