In the field of clean energy, China needs to invest 500 billion yuan (about 77 billion US dollars) to develop distributed solar PV by 2020 to achieve low carbon development goals.
On June 7, at the 2nd China-US Climate Smart/Low-Carbon City Summit, Zhang Yong, deputy director of the National Development and Reform Commission of China, said that China and the United States have great potential for cooperation in low-carbon cities. China will further expand the low-carbon pilot to 100 cities. The meeting also released "Green Finance and Low Carbon City Investment and Financing" (hereinafter referred to as "investment and financing"). The report predicts that the total investment required for China's low carbon city construction in the next five years will reach 6.6 trillion yuan (about 10,000 yuan). One hundred million U.S. dollars). Zhang Yong said that China and the United States can strengthen cooperation in low-carbon cities construction in three aspects.
First of all, in the construction of low carbon cities. China encourages and supports cities in both countries to strengthen exchanges and cooperation in building low-carbon development infrastructure and formulating low-carbon development policies.
Second, in terms of carbon emissions trading. At present, China has launched pilot projects on carbon emissions trading in seven provinces and cities such as Beijing, and has explored experience in establishing a national carbon emissions trading market; some US cities have also established greenhouse gas quota trading mechanisms. Zhang Yong said that the two sides can strengthen cooperation in this field.
Third, in terms of fiscal and financial policies. China's low-carbon pilot cities are exploring low-carbon development-related incentives and financing support policies, while the United States has rich experience in developing green finance, and the two sides can strengthen exchanges.
Zhang Yong said that China is in the stage of accelerating urbanization, and the level of urbanization is over 55%. Since 2012, China has launched two batches of 42 low-carbon provinces and low-carbon cities. The population of these pilot areas accounts for about 40% of the country's total, and GDP accounts for about 60% of the national total. In the future, China will further expand the low-carbon pilot to 100 cities.
On the same day, the report “Green Finance and Low-carbon City Investment and Financing” (hereinafter referred to as “investment and financing”) jointly written by the Paulson Foundation, the Energy Foundation (China) and the China Recycling Energy Professional Committee of the Circular Economy Association predicts that the future The total investment required for China's low-carbon city construction in five years will reach 6.6 trillion yuan (about 1 trillion US dollars) for low-carbon construction, green transportation and clean energy.
“The green development strategy of the city is inseparable from the support of green finance. Transportation, construction and energy are the most important emission sectors in the city, and its greening process has become the key to the development of green and low carbon in the city.” Chief Economist, Research Bureau of the People's Bank of China Ma Jun, director of the Green Finance Professional Committee of the China Finance Association, said.
The “Investment and Financing” report is divided into three sections, focusing on three key areas – construction, transportation and clean energy. It explores different green financial instruments, mechanisms and related policies such as green loans, green bonds, green industry funds, and carbon financing. The potential to promote private capital into the low-carbon urban infrastructure sector.
First, in the construction sector, China needs to invest 1.65 trillion yuan (about 254 billion US dollars) during the 13th Five-Year Plan to support new green buildings and large-scale energy-saving renovation of existing housing and commercial buildings.
“The government has promised to improve building energy efficiency by implementing better building standards and providing public subsidies. At the same time, we have seen that private capital has also shown increasing interest in these projects. We are developing innovative energy-efficient building investment and financing mechanisms, such as In combination with the third-party rating agency system and the establishment of a green building government guarantee mechanism, the economic growth potential of the green building sector will be enormous.” The author of the architectural article, Mo Zhengchun, executive director of the Paulson Foundation Beijing Representative Office.
Secondly, in the field of transportation, the “13th Five-Year Plan” has set ambitious development goals for green transportation in Chinese cities. The investment in infrastructure such as urban railways, buses, electric vehicles, bicycles and urban roads will need about RMB 4.45 trillion. (about $6849 billion).
Wang Zhigao, the chief author of the transportation section and director of the Urban Project of the Energy Foundation (China), said: “One of the challenges facing transportation project financing is that investment and operations are heavily dependent on local debt, which leads to the city facing relatively high credit risk. PPP, etc. The financing model helps to enrich funding sources and ensure more funds are invested in low-carbon transportation projects."
Third, in the field of clean energy, China needs to invest 500 billion yuan (about 77 billion US dollars) to develop distributed solar photovoltaics by 2020 to achieve low carbon development goals.
“Supporting the development of distributed solar PV is the most important means to promote the cleanliness of the urban energy industry.” Peng Yu, director of policy research at the Recycling Energy Professional Committee of the China Association of Circular Economy, said, “In addition to distributed solar photovoltaics, we also encourage urban exploration. Buying green energy from other cities, expanding the market demand for clean energy and helping cities achieve their low carbon goals."

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