Will China’s quest for clean air affect the economy?

China emits about a third of global greenhouse gases. It is also home to 16 of the most polluted cities in the world. China’s Gross Domestic Product (GDP) growth dropped from 7.7% in 2013 to 7.4% in 2014. Will China fulfill its quest for clean air and sustain its economy? Leon Perera, Chief Executive Officer of Spire Research and Consulting, shared his insights in China Daily – Asia Weekly.

It is not hard to see why China is so keen to implement counter measures to deal with air pollution. Only 8 out of 74 major cities in 2014 met the prescribed health air quality criteria. Moreover, 20 million cars were sold in 2013 – making China the world’s largest car market and adding to its toxic emission woes.

Perera noted that the causes of pollution include rapid urbanization and industrialization. Furthermore, the nation burns coal on a large scale – an average of 2 million tons is consumed yearly to meet growing energy demand.

The government’s five-year action plan will monitor air pollution levels. The nation also plans to invest USD300 billion into renewable energy by the end of 2015 to reduce the country’s carbon footprint.

Interestingly, companies are now keen to sell products that help deal with air pollution, such as air purifiers. Around USD30.3 million air purifiers were sold in 2013 alone.

China further plans to fund USD3.1 billion in aid to assist developing nations against global warming and develop industries with lower carbon emissions.

https://www.spireresearch.com/newsroom/media/will-chinas-quest-for-clean-air-affect-the-economy/

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