CHINA: China and Europe agreed on the development of the circular economy

The recently presented plan outlines the joint efforts of the EU and China to implement the Memorandum of Understanding between the union and the world’s most populous country on the circular economy.

With a focus on plastics, battery value chains and remanufacturing, the roadmap outlines specific actions to be taken, including ongoing negotiations for a global plastics treaty.

The roadmap, whose implementation is planned for 2024, will be reviewed at the upcoming dialogue on the circular economy.

Virginius Sinkevičius, European Commissioner for Environment, Oceans and Fisheries, emphasized the global importance of the transition to a circular economy. He pointed out the role of the road map in achieving progress in the field of sustainable development and in promoting new opportunities for production and consumption.

At the World Circular Economy Forum, Florica Fink-Heuer, Director-General of Environment, met with Zhao Chenxing, Vice-Chairman of China’s National Development and Reform Commission, to explore the prospects for circular economy cooperation. During their meeting, they reached a consensus on the implementation of the roadmap.

An introductory workshop on moving towards a circular economy for plastics is currently planned in the EU and China, scheduled for May 2024.

Various aspects will be discussed at this meeting, including design approaches, single-use plastics measures and advances in bio-based materials.

Follow-up workshops on battery value chains and remanufacturing are planned for later in 2024.

Against the backdrop of the pressing challenges of biodiversity loss, climate change and environmental pollution, China and the EU recognize the need to promote sustainable development pathways. The circular economy is a key strategy for achieving a zero-carbon economy by 2050, mitigating biodiversity loss and fighting pollution.

The two entities reaffirmed their commitment to cooperation during the inaugural High Level Political Dialogue on the Circular Economy. This commitment extends to the extension of Memorandum of Understanding for five years and jointly develop a Circular Economy Roadmap to guide joint efforts.

3 January 2025

UK: HMRC ramps up campaign to clamp down on offshore tax evasion

The number of individuals confessing to HMRC about unpaid taxes on offshore income surged by 22 per cent in 2024, with 5,643 taxpayers coming forward compared to 4,630 in 2023, according to research

Read More
19 January 2024

INTERNATIONAL TAX: Nigeria, UAE to sign agreement eliminating double taxation

The Federal Government has approved the signing of an agreement between Nigeria and the United Arab Emirates (UAE) to eliminate double taxation as regards taxes on income and the prevention of tax evasion.

Read More
26 June 2025

US: Trump Teases More Crypto Action in Prerecorded Coinbase Summit Address

Trump delivered a pre-recorded message to Coinbase’s State of Crypto Summit, marking only his second direct address to the crypto sector as president. He emphasised his commitment to implementing

Read More
4 April 2025

US: Small Business Victory on Beneficial Ownership Reporting

U.S. small businesses do not need to fileWhat it means: U.S. small businesses do not need to file federal Beneficial Ownership Information reports. FinCEN issued a new regulation that exempts all U.S.

Read More