Over the period, the global proportion of China’s green trade increased by 2.3 percentage points, according to “China Green Trade Development Report 2023,” released this week by the Chinese Academy of International Trade and Economic Cooperation.
Although China’s green trade shrank in 2022 due to multiple factors including a sluggish global economic recovery and weakened external demand, its market structure shows a clear trend of diversification and the trade mode continues to be optimized, the report said.
China, the United States and the European Union have remained the global leaders in green trade volume, with their combined market shares on the rise and accounting for 40.4 percent of the global total in 2022.
The report, however, pointed out the backlash against economic globalization, which has brought challenges to the development of green trade.
According to the report, green trade is more active in China’s eastern coastal region. The proportion of green trade in the central and western regions is relatively low, but these regions have great potential for development.
The report was released during the 2023 Green, Low-carbon and High-quality Development Conference held in the city of Yantai in east China’s Shandong Province