China Resources Recycling Group Co., Ltd. was established

On October 18, China Resources Recycling Group Co., Ltd. was established in Tianjin, with shareholders including Sinopec, China Baowu, China Minmetals, China Resources, Aluminum Corporation of China and many other central enterprises. The Group's business covers the construction of offline resource recovery networks and scrap steel recycling, the recycling and trade-in of durable consumer goods such as electronic products, the waste battery business of new energy vehicles and electric bicycles, the recycling of retired wind power and photovoltaic equipment, the recycling of waste non-ferrous metals, and the recycling and processing of waste plastics.

In the past, China's mineral resources were relatively scarce, and it also needed to import scrap copper and other processing and smelting from abroad. However, after more than 40 years of rapid development, some production capacity has entered a relatively saturated state, precipitating a large number of resources that can be recycled, these resources are called "second mines", and effective revitalization and utilization can not only reduce costs, but also reduce carbon emissions and environmental pollution, which is conducive to the realization of the "double carbon" goal.

At present, the construction of the recycling system of renewable resources such as waste household appliances are faced with the problems of imperfect disposal standard system for recycling, dismantling, reuse and other links, many circulation links, mixed industries, and "insufficient capacity" of qualified recycling enterprises. The establishment of the Group is expected to promote the large-scale and agglomeration development of resource recycling and improve the standardization and efficiency of the entire industry.

Before the establishment of the Group, the shareholders of central enterprises had been involved in the field of resource recycling. For example, Baowu Iron & Steel has Ouyeel Lianjin Renewable Resources Co., Ltd., which is engaged in automobile and ship dismantling, recycling and processing of recycled steel. Sinopec, China Resources and Aluminum Corporation of China have respectively set up scrap steel business, waste plastic recycling business, recycled aluminum and copper scrap business。

The originally scattered business is managed independently by each enterprise, which may have problems such as different management standards and difficult coordination. Now, after centralized transfer and unified management and operation, unified planning, unified standards, and unified coordination can be realized, and management efficiency and decision-making speed can be improved. Through restructuring and integration, the new central enterprises will be more capable of large-scale investment and research and development, promote the efficient recycling, utilization and treatment of waste resources, so as to promote the development of the resource recycling industry. The new central enterprises can also coordinate the resources of all parties and jointly promote the progress and application of resource recycling technology. Through cooperation with relevant enterprises and institutions, the linkage effect of the upstream and downstream of the industrial chain will be formed, and the entire industry will be promoted to develop in a greener and low-carbon direction.