Efficiency of resource utilization will be greatly improved by 2025, with circular economy playing a bigger role in ensuring resource security, reads the document.

Under the plan, the amount of waste paper and scrap steel utilized will reach 60 million tons and 320 million tons by 2025. Respectively, while the industrial output value of the resource recycling industry will stand at 5 trillion Yuan (about 771.6 billion U.S. dollars).

The plan also outlines major projects and tasks for developing circular economy in the following five years, including innovations in key technologies and equipment, the treatment of plastic pollution, eco-friendly express packaging and the recycling of traction batteries.

China has announced its goal of peaking carbon dioxide emissions by 2030 and achieving carbon neutrality by 2060, with various sectors speeding up low-carbon transition.