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Report on the Development of the Green Industrial Transformation of China’s Special Economic Zones

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Annual Report on the Development of China’s Special Economic Zones (2021)

Abstract

The government regulations with increasingly higher standards have directly promoted green industrial transformation, while green technological innovation is the essential driving force for such transformation. This report analyzes and summarizes the green industrial transformation and the development of green industries in China’s five major special economic zones in 2019. In terms of the developmental trend of green transformation, green supply chain management is expected to become an important lever of action for green industrial transformation and an important strategy to eliminate the trade barriers oriented by “product environmental footprint”. In this report, the ability to carry out green industrial transformation on the part of the five special economic zones is evaluated with the green industrial transformation indicator system. According to the results of the evaluation, the Shenzhen Special Economic Zone plays a role of leading, early and pilot implementation in the green industrial transformation; however, it needs to strengthen guidance in green finance and increase its green public investment.

Results of the key research base of humanities and social sciences of the Ministry of Education’s major project “Research on the Social Distribution of Industrial Transformation and Developmental Opportunities in the Special Economic Zones (Project Number: 15JJDZONGHE032)” and the project “Research on the Progress of Industrial Transformation in China's Special Economic Zones in 2020” by the China Center for Special Economic Zone Research, Shenzhen University.

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Notes

  1. 1.

    According to the Statistical Report System of Strategic Emerging Industries in Shenzhen, green and low-carbon enterprises are the ones, which are in the construction, the industry or the service industry and cover environmental protection (the use of environmentally friendly materials or environmental protection operations) in their main businesses, including production of new energy vehicles and their pars, new energy batteries, special equipment for environmental protection, advanced nuclear energy, solar power generation, waste recycling and reuse, energy-saving technology promotion services, etc.

  2. 2.

    According to data from the Ministry of Public Security, there were 348 million vehicles in China in 2019, including 3.81 million new-energy vehicles, accounting for 1.1%.

  3. 3.

    Source: The data released by the Shenzhen Municipal Bureau of Housing and Urban–rural Development during the Shenzhen 2019 Building Energy Conservation Publicity Week.

  4. 4.

    Source of the definition: Green Finance Regulations for the Shenzhen Special Economic Zone (Draft for Comments) (2020).

  5. 5.

    The cost of the issuance of green bonds is generally 20–30% lower than that of ordinary bonds; in 2020, Shenzhen Metro issued 3-year green bonds with a coupon rate of only 2.9%.

  6. 6.

    Source: The Survey Report of the Shenzhen Branch, the People's Bank of China: The Status of the Development of, Existing Problems of and Suggestions for Shenzhen Green Finance.

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Yuan, Y., Xie, H., Chen, M. (2023). Report on the Development of the Green Industrial Transformation of China’s Special Economic Zones. In: Tao, Y., Yuan, Y. (eds) Annual Report on the Development of China’s Special Economic Zones (2021). Research Series on the Chinese Dream and China’s Development Path. Springer, Singapore. https://doi.org/10.1007/978-981-99-6667-7_2

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