China must “bite the bullet” when it comes to tackling economic waste and overconsumption, said President Xi Jinping on Saturday, after decades of rapid growth have done significant damage to the environment.
Although China has made considerable progress in tackling pollution and embracing green energy, its achievements had yet to be fully “consolidated,” state media quoted Xi as saying.
“We must speed up the construction of a system of ecological civilisation and ensure that the ecology and environment are fundamentally improved by 2035, and that our goal of building a beautiful China is basically achieved.”
Global environmental stocks, such as water management and new road materials companies, rallied following the announcement during yesterday’s trading.
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