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ANALYSIS AND NEWS - ANALYSIS


COMPREHENSIVE UNDERSTANDING OF SUSTAINABLE INVESTMENT USAGE AND BENEFITS IN
CHINA


SEIZING OPPORTUNITIES IN CHINA'S SUSTAINABLE INVESTMENT (JOINT RESEARCH BY HKTDC
RESEARCH AND ACCA)

18 Nov 2024
 * 
 * 
 * 
 * 

 * Cherry Yeung

While investors and corporations have notably become more aware of both
sustainability issues and the related regulations, it remains unclear to what
extent such evolving considerations are being incorporated into their strategies
and operations. The Chinese government, however, has actively adopted a range of
policies in support of its Dual Carbon targets and its macro plans. To date,
these include moves to align industrial policy with green growth via both
industrial and financial metrics.

As part of this green transition, corporations have been obliged to develop
comprehensive business plans with a focus on, among others, energy conservation,
carbon reduction, greater use of clean energy and enhanced resource recycling.
In addition, partnerships with green service providers are prioritised in order
to ensure compliance with sustainability objectives. Transitioning to more
sustainable practices, however, is not without significant challenges, including
sourcing the required finances and resources necessary for initiating
fundamental changes, while negotiating the problem arising from any knowledge or
skill deficits.

To gain a deeper understanding of companies’ engagement with these issues and
their current business positions, the HKTDC and the ACCA have undertaken a joint
research initiative, including a comprehensive survey of the sustainability
strategies and beliefs of a representative selection of mainland China, Hong
Kong and Macao-based businesses. In specific terms, the study aims to assess
corporate understanding and the varied perspectives relating to sustainability,
as well as developing an understanding of the various costs and benefits, as
well as the sundry strategic approaches to securing sustainability. In addition
to quantitative analysis, in-depth interviews with industry professionals were
conducted as a means of providing insights into the qualitative aspects of such
issues.

Sustainable Investment in China: Survey Findings

Between May and June 2024, an online survey of 283 companies was conducted with
regard to their progress in adopting sustainable practices and their plans for
green investment. All of the participating companies were private or state‑owned
mainland enterprises or Hong Kong / Macao / overseas invested enterprises
operating / investing in mainland China. Service‑sector companies comprised 69%
of the respondents, while the remaining 31% were manufacturing enterprises.
Large‑scale enterprises, with an annual turnover exceeding RMB2 billion,
comprised 38% of the total, while 38% had annual sales ranging from RMB100
million to RMB2 billion and 24% had an annual turnover of less than RMB100
million.


Methodology:  Online survey

Target group:   Companies with Chinese business

Sample size:    n=283

Survey period: May-June 2024

Positive Business and Investment Outlook



 * Enterprises confident of more positive business outlook

Overall, companies viewed the 2024 business environment as more positive than
its 2023 counterpart. In all, some 64% of respondents said the current business
environment has improved / stabilised, while 34% maintained business had
improved this year. With regard to the business outlook over the next three
years, 80% were optimistic, with 55% expecting business to improve and 24%
expecting the situation to remain more or less the same as in 2023.

 * Investment in China set to accelerate

In other findings, some 77% of enterprises plan to increase or maintain their
level of investment in China this year. Among these, 27% indicated their intent
to increase any such investment, either moderately or significantly, while about
half were committed to maintaining their current level of investment this year.

Looking ahead, the survey suggests that this rise in China‑bound investment
looks set to accelerate over the next three years in line with recovering
sentiment. In all, some 41% of respondents believe that investment in China will
improve either moderately or significantly over the next three years, while 42%
expect investment to be maintained at the current level.



Comprehensive Understanding of Sustainable Investment Usage and Benefits

 * Healthy awareness of sustainable business practices / investment

Among participating companies, there is a generally healthy awareness of the
importance of sustainability, as shown, for example, by widespread moves to
integrate environmental principles into boardroom agendas. In specific terms,
the majority (85%) of interviewed enterprises expressed their awareness of the
concept and acknowledged the importance of sustainable business / investment. At
the other end of the scale, only 13% of respondents indicated they were only
“slightly familiar” with the issues, while just 2% considered themselves
“extremely unfamiliar”.

There is no major difference between the manufacturing and services sectors,
with only a slightly higher proportion (87%) of foreign‑invested enterprises
indicating an awareness of sustainable business / investment practices.


 * Carbon peak / neutrality, renewable energy and green financing most
   recognised China policy priorities

It has been widely recognised that China attaches considerable importance to
tackling climate change and cutting carbon dioxide emissions. Accordingly, it
has adopted a series of measures specifically geared to meeting such challenges.
Of these, carbon peak / neutrality is the most recognised policy among survey
respondents at 33% (Top 2 boxes). Renewable‑energy development comes in second
at 28%, followed by green‑financing initiatives (26%). Despite this, there
remains ample room to increase knowledge of a number of other policies that
promote sustainable investment practices, including carbon‑related investment
and neodiversity financing.



 * Key drivers: Economic factors, sustainable capability and governance

Finding ways to maintain the momentum of the green agenda, while ensuring that
existing targets are met, is famously far from easy, frequently obliging
enterprises to strike something of a balance. Highlighting this, some 70% of
survey participants indicated that economic factors were very or extremely
important (with a mean score of 78.4 out of 100) when evaluating business /
investment opportunities in China. Furthermore, almost 60% viewed establishing a
sustainable capability (mean score of 74.2) and appropriate governance (mean
score of 73.8) as essential, closely followed by addressing relevant social
factors (mean score of 72.4).



For further details, please refer to:

Hong Kong Services Sector Set for Mainland Sustainability Windfall

Seizing Opportunities in China's Sustainable Investment (Executive Summary)


Navigating the Priorities of Modern Chinese Business


Global Sustainability Pledge




RELATED TOPICS

Finance & InvestmentMainland ChinaGREEN INVESTMENTGREEN FINANCEGREEN INVESTMENT
LANDSCAPESUSTAINABLE DEVELOPMENTGREEN PRACTICESDUAL CARBON GOALSLOW-CARBON
ECONOMYBUSINESS OUTLOOKSUSTAINABILITY


In focus: Australia (2022 data)


Population: 26.2 mn
GDP: US$1,701.9 bn
GDP per capita: US$65,526
Australian companies in HK: 159

Detail

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