Policy Digest

Joint effort looks to boost rural investment

The Ministry of Agriculture and Rural Affairs, the National Rural Revitalization Administration and the Bank of China will work together to improve financial services in rural areas to help boost investment, a notice published on Friday said.

According to a recently signed agreement, the three parties will carry out comprehensive, in-depth, pragmatic and close cooperation in areas such as food production, rural development and countryside governance.

Cooperative plans will be formulated for specific tasks, including promoting opening-up in the agricultural industry, supporting the development of counties that lag behind in terms of rural vitalization, and promoting urban-rural integration.

The three parties have also agreed to explore the establishment of a long-term cooperation mechanism and look to further innovate in terms of financial products and services that support agriculture, thus accelerating the modernization of agricultural and rural areas.

Furthermore, efforts will be made to promote the integration of policies and capital to attract more financial resources to help address weaknesses in the rural vitalization work and better meet diverse funding needs in agriculture and rural areas.

Guideline focuses on recycling textile waste

China aims to recycle 25 percent of its textile waste and produce 2 million metric tons of recycled fiber by 2025, alongside its goals to reach peak carbon emissions by 2030 and carbon neutrality by 2060, according to a recent guideline.

The document, jointly issued on April 11 by the National Development and Reform Commission, the Ministry of Commerce and the Ministry of Industry and Information Technology, said that by 2030, the country's textile waste recycling system will be refined, with 30 percent of the waste recycled and 3 million metric tons of recycled fiber being produced.

China is the world's leading producer and exporter of both raw textiles and garments.

Some 2.2 million tons of textile waste were produced in 2020, according to the China Association of Circular Economy. Only about 20 percent was reused, and about 1.5 million tons of recycled fiber were produced.

To improve the recycling system, restrictions on the installation of recycling bins in communities, shopping malls and schools will be removed, and companies engaged in recycling will be encouraged to develop businesses in third- and fourth-tier cities.

The research and development of technology related to textile waste recycling will be included in key national R&D plans, it said, adding that efforts to make breakthroughs in terms of key technologies and equipment concerning fiber recognition, high-efficient sorting and the separation of blended materials in the waste will be made.

Companies will receive support to carry out pilot schemes to improve the recycling of clothing such as school uniforms.