Greener growth brings benefits

The development of the renewable energy sector has to push economic growth while dealing with climate change. How to reach a delicate balance between the two poses a challenge to many countries. The long cycle and high costs of renewable energy projects along with the lack of mature technologies have created obstacles to some countries promoting the transition away from fossil fuels to renewable energy sources.

China's booming new and renewable energy sector can to a large extent be attributed to its long-term vision. It incorporated the construction of an ecological civilization as an important part of the 13th Five-Year Plan (2016-20), and it has made continuing efforts to advance along a green, low-carbon and sustainable development path.

According to a report recently published by the International Energy Agency, the world's photovoltaic sector saw a 50 percent capacity increase in 2016, half of which was contributed by China, and more than 40 percent of the newly-increased global power capacity fueled by renewable energy comes from China.