At a time when the world is filled with doubts about the commitment to green transformation, China is providing unshakable institutional certainty through the most serious legal means.
In a previous interview with Phoenix TV, I pointed out that faced with extreme heat waves and climate challenges, many European countries, under heavy industrial and economic pressures, are being forced to compromise with reality, relaxing environmental standards and even deliberately damaging water bodies. This wavering in the policies of major powers stands in stark contrast to the national "Ecological Environment Code," which I recently analyzed on the RTHK program "Looking at China." This code, which just came into effect on August 15, unprecedentedly dedicates a separate chapter to "green and low-carbon development," legally defining the goal of this transformation.
The code introduces new requirements for green and low-carbon living, which may not impose mandatory restrictions on mainland households, but will gradually change residents' lifestyles. For example, excessive packaging in food delivery and online shopping, and businesses will adapt to energy-saving requirements for electronic products and household appliances. Different provinces in mainland China have already begun to encourage residents to save electricity and water in exchange for rewards, successfully creating economic incentives and transforming carbon reduction into a sustainable economic cycle.
Faced with the green reshuffling of the national economic system, we must make good use of Hong Kong's internationally aligned financial infrastructure and professional services to become an offshore pricing hub for the country's dual-track carbon market and green assets. By transforming this enormous institutional dividend, Hong Kong will surely secure an irreplaceable strategic position in the new round of global resource allocation.
