China's Green Transformation Creates New Opportunities, Shifts Industries

Zhang Lei, Chairman of Envision Group, stated that China's economy reached a turning point in 2010. China's economy has shifted from high-speed to medium-speed growth since 2010, with a focus on boosting consumption among low- and middle-income groups, including 300 million rural migrant workers. The shift to mid-speed growth occurred around 2010 due to changing economic growth constraints. The strategy to boost consumption focuses on increasing 'developmental consumption' and improving basic public services for these groups, alongside leveraging innovation and green technology for economic growth. China aims to drive economic growth through innovation and sales, which requires high-quality human capital as support. The source said that green technology and green transition have a very large and all-encompassing impact, creating opportunities and phasing out old industries. China reaffirmed its commitment to actively protect biodiversity, explore new paths for green development, and build a community of life between humanity and nature. The source highlighted that green technology and green transformation will create opportunities, leading to the emergence of new industries and jobs as older ones gradually phase out. A Chinese economic broadcast said that green technology and green transformation have a and comprehensive impact, leading to the creation of numerous new opportunities. Innovation is driving new growth momentum in China's economy. Innovation-driven growth, supported by high-quality human capital, is for China's economic development.