With their domestic profits narrowing and production capacity expanding, China’s firms are continuing to widen their overseas footprints in search of new, more lucrative markets. In this series, we examine China Inc.’s next phase of “going global” and the complex, challenging international environment its companies have chosen to enter.
China’s businesses have emerged as global players in a string of industries in recent years – from electric cars to solar panels. Now, the country is rapidly gaining a foothold in another field: waste processing.
Six months ago, Chinese companies had been involved in 79 overseas waste incineration projects spanning Asia, Europe, Africa and the Americas, according to a government-supported non-profit organisation. By the end of November, that figure had jumped to 101.
China’s waste-to-energy industry is undergoing a leap “from exporting mere technology to delivering a complete package of technology, standards, management and capital”, said Guo Yungao, secretary-general of the All-China Environment Federation’s energy and environment committee.
Waste-to-energy firms convert municipal solid waste into electricity through high-temperature incineration, earning revenue through fees paid by local governments and selling the generated power.