A circular economy could save China five trillion dollars

Shanghai Bund skyline landmark ,Ecological energy renewable solar panel plant
In urban areas, individual spending has increased fourfold in 20 years. But wasteful consumption is having a negative effect on the environment and the economy (Image: Jeff Hu / Thinkstock)

chinadialogue | 30 October 2018

China could see big improvements in air quality, a reduction in carbon emissions and huge savings for business and households worth 32 trillion yuan (US$5.1 trillion) by 2030 if it moved to a circular economy, according to a recent report from the Ellen MacArthur Foundation.

As China’s economy grows people are consuming a lot more. In urban areas, the amount people spent increased four times in real terms from 1995-2014 to about 17,000 yuan (US$2,700) a year, says the report. This will grow even more as rapid urbanisation continues.

Read the full article here: A circular economy could save China five trillion dollars.