Gu Shengzu, vice-chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), made a keynote speech on the low-carbon transformation of the manufacturing industry at the Boao Forum for Asia Economist Roundtable 2022 recently in Beijing.

Gu stressed the importance of peaking carbon emissions and achieving carbon neutrality to the economy, environment, people's livelihoods, politics and security. To promote the manufacturing transformation, he also called for attention to eco-friendly development and the application of digital technologies.

He pointed out that efforts are also needed to accelerate the transition to sustainable energy by expanding the use of renewable sources, including wind, solar and hydrogen energy. He highlighted the need to promote industrial upgrading through multiple measures, such as product iteration and resource recycling, and to support technological advances.

He also said it's important to enhance the governance system to let both the government and the market play effective roles, provide support to the carbon trading market and green finance initiatives, and optimize fiscal and industrial policies as well as the rule of law.