China’s green sector is seen growing to 3%of GDP by 2020
China expects the output value of its energy saving as well as environmental protection industry to ascend from 4.5 trillion Yuan the previous year to more than 10 trillion by 2020, raising its share of GDP from 2.1% to 3%.
State news agency Xinhua quoted the deputy head of the National Development and Reform Commission, China's state planning agency, Hu Zucai, in a report on the forecasts on Tuesday. Hu told that the energy saving industry currently employs more than 30 million workers.
China is hoping that huge outlays in the environmental sector won’t only reverse some of the damage inflicted by more than three decades of breakneck economic growth, though it will also help to diversify China’s heavy industrial economy.
Total investment in pollution prevention is supposed to hit 8-10 trillion Yuan over the 2016-2020 period. For the previous five years, spending stood at 4.3 trillion Yuan, amounting to 1.45% of GDP.