COP29 | Zhao Yingmin: China’s Circular Economy Thrives, Offering Valuable Experience to the World

On November 20 (local time), a side event themed “International and Domestic Practices of Circular Economy in Combating Climate Change” was held at the China Pavilion in the Blue Zone of the 29th Conference of the Parties (COP29) to the United Nations Framework Convention on Climate Change. Zhao Yingmin, head of the Chinese delegation to COP29 and Vice Minister of the Ministry of Ecology and Environment, called on developed countries to increase financial support and technology transfer to developing countries, expressing hope that the conference would reach a more ambitious new financial goal to provide confidence and assurance for the next phase of global climate action.
Zhao Yingmin said that climate change is a common challenge faced by humanity, impacting our ecological environment, economic development, and even social structure at an unprecedented rate. Faced with this severe situation, the international community has generally recognized that only by enhancing capabilities, through transformation and innovation, including vigorously developing the circular economy, can we effectively mitigate the impact of climate change and achieve sustainable development goals.
All parties at COP29 need to reach a consensus on a new collective quantified goal (NCQG) for climate finance to clarify funding arrangements after 2025.
According to Zhao Yingmin, countries are currently actively negotiating the target scale, funding sources, and support scope of the NCQG, and the NCQG group has also drafted a new version that incorporates opinions from all parties. China calls for adhering to the principles and mandates of the Convention and the Paris Agreement, reflecting the alignment of actions by developing countries with support from developed countries, and balancing fairness and efficiency.
Zhao Yingmin noted that in China, the circular economy is thriving. From the national-level “Strategic Planning for Circular Economy Development” to the active exploration of local governments, from the resource utilization of industrial waste to the promotion of agricultural circular economy, from urban waste classification to the construction of “zero-waste cities”, the circular economy has become a key force in promoting ecological civilization construction and achieving high-quality development. Especially in recent years, China’s notable achievements in new energy, green buildings, and new energy vehicles not only demonstrate its commitment to combating climate change but also contribute valuable experience to global circular economy practices.
On the international stage, the practice of circular economy has flourished everywhere, yielding remarkable results. At the climate conference, many well-known domestic and foreign enterprises have rich practices and outstanding achievements in the field of circular economy. He looks forward to further strengthening international cooperation and jointly exploring innovative paths for the circular economy through this side event.