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Inventory | Provincial, Municipal, and County-level State-owned Resource Recycling Groups Established After the New Central SOEs

New Observations on Waste Plastics 2025-03-23 09:03:53

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China Resource Recycling Group Co., Ltd. established

On October 18, 2024, China Resource Recycling Group Co., Ltd. was officially established in Tianjin with a registered capital of 10 billion yuan, as the country's first central state-owned enterprise for resource recycling. China Resource and Environment Group bears the important mission of building a national functional platform for resource recovery and reuse. This landmark event not only injects strong momentum into the development of China's circular economy but also triggers responses from all over the country.

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Provincial and municipal resource recycling groups are springing up like mushrooms after rain.

2.1 Henan proposes to establish a provincial circular economy industry group

Henan was the first to propose the establishment of a provincial circular economy industry group. On October 26, 2024, Henan Province held a press conference on deeply implementing a package of incremental policies and firmly shouldering the political responsibility of being a major economic province. At the meeting, Ma Jian, the Secretary of the Party Leadership Group and Director of the Development and Reform Commission of Henan Province, stated that Henan is deeply implementing the action of building a waste recycling system, actively preparing for the establishment of the provincial circular economy industry group, and accelerating the high-quality development of the resource comprehensive utilization industry.

2.2 Guangxi Becomes the Pioneer of Provincial Circular Industry Platform

The pioneer of Guangxi's first provincial circular industry platform, Guangxi has taken the lead in the construction of provincial circular industry platforms. As early as December 2021, Guangxi Modern Logistics Group established a high-positioned and high-standard national first provincial circular industry platform, Guangxi Guiwu Circular Industry Group Co., Ltd. In September 2023, the platform was officially inaugurated and renamed to Guangxi Circular Industry Group Co., Ltd.

2.3 Hubei Resource Recycling Co., Ltd. Established

Hubei Resource Recycling Co., Ltd. was established on January 23, 2025. At the third anniversary report and exhibition of the reform and restructuring of the Yangtze River Industry Group, Hubei Resource Recycling Co., Ltd. was officially established. Data shows that the registration date of Hubei Resource Recycling Co., Ltd. is December 6, 2024, with a registered capital of 48 million yuan.

2.4 Guangdong, Jiangxi, Jiangsu, and other regions are actively promoting the development of the resource recycling industry

Guangdong proposes to accelerate the establishment of provincial recycling and utilization platform enterprises, strengthening central-local cooperation and provincial-city collaboration.

Jiangxi mentioned promoting the construction of provincial investment and operation platforms in the fields of ecological environmental protection and resource utilization, and smoothing the chain of resource recycling and utilization;

Jiangsu proposes to actively build a functional resource recycling and reuse platform, smooth the chain of resource circulation and utilization, and cultivate a number of leading enterprises in the field of resource circulation.

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County-level resource recycling companies are emerging

Besides the provincial level, some city and county-level resource recycling companies have also begun to emerge. On December 23, 2024, Putian City Resource Recycling Group Co., Ltd. was officially approved for establishment, becoming the first prefectural-level resource recycling group in the country. On January 17, 2025, Jiangxi Lvxun Resource Recycling Group Co., Ltd. was inaugurated in Jinxian County, marking the first state-owned resource recycling group company in Jiangxi Province.

Outlook on the future role of resource recycling groups: The establishment of the first central state-owned enterprise is just the beginning, and in the future, more provincial and municipal resource recycling groups will join this trend. These resource recycling groups will play a greater role and create more value in promoting the development of China's circular economy. The wave of group formation in the resource recycling industry is an inevitable result of policy-driven and market evolution, which will reshape the industry ecosystem. Enterprises need to balance policy response and market-oriented capabilities in their strategic layout in order to gain the upper hand in the "green revolution."

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Inventory | Provincial, Municipal, and County-level State-owned Resource Recycling Groups Established After the New Central SOEs

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