From Shanxi, for cleaner, greener energy

Green loans and bonds helping green transition

By Ma Jianchun

As a national pilot province for a comprehensive reform of the energy revolution, Shanxi bears a major responsibility to explore a path toward green transformation for resource-dependent regions in China and around the world.

It is also tasked by the Ministry of Commerce with advancing institutional opening-up through the pilot free trade zone and the comprehensive pilot program for expanding the opening-up of the services sector.

Traditional energy is being renewed, while industrial value chains are moving up the ladder.

Shanxi is at the forefront of smart mine development nationwide. Clean coal-fired power technologies continue to make breakthroughs, driving down coal consumption per kilowatt-hour while significantly reducing pollutant emissions.

Homegrown core equipment has broken foreign technological monopolies and has already achieved commercial application overseas, with its market presence extending across Southeast Asia, the Middle East, Africa and Eastern Europe. Shanxi is thus moving beyond simply "selling coal" to "selling technology and equipment".

New energy is gaining momentum, while green power equipment is reaching markets far beyond Shanxi. Wind and solar power capacity is expanding rapidly, the hydrogen energy industry is taking shape at a faster pace, and breakthroughs are being made in energy storage technologies.

Progress is also being made steadily in carbon capture, utilization and storage. Shanxi is moving from being an "energy producer" toward becoming an "energy exporter", contributing to global sustainable development through international cooperation in green industries and production capacity.

Computing power and finance are becoming increasingly intelligent, while digital trade is making cross-border commerce more connected and accessible. The deep integration of "artificial intelligence+energy" applications is providing strong support for the national strategy of channeling computing resources from the east to the west. A growing range of green financial instruments, including green loans and green bonds, is helping support the transition to a low-carbon economy.

The author is president of the China Society for World Trade Organization Studies. The views do not necessarily reflect those of China Daily.