Go green for sustainable expansion

Development based on sacrificing environment is outdated, says Zhou

As China needs to invest 2 to 4 trillion yuan ($310 billion to $630 billion) annually in the next five years in order to counter the impact of pollution and climate change, the nation needs to come up with a green financing mechanism to facilitate its transition to sustainable growth, said Zhou Xiaochuan, former governor of the People's Bank of China.

China should further encourage capital into green sectors and stem investment that might pollute the environment, Zhou told the 2018 annual conference on sustainability jointly held by the Paulson Institute and the China Center for International Economic Exchanges in Beijing on Wednesday.