China’s race to industrialize and urbanize in a single generation has taken a significant toll on the environment and quality of life. For instance, among the country’s 500 largest cities, less than 1% meet the World Health Organization’s air quality standard, more than 40% of China’s rivers are polluted, and nearly 20% of arable land is considered contaminated.
Under immense social and economic pressures, the Chinese government has committed to tackling these issues as part of its economic transition. Beijing has pledged to invest $360 billion
into renewable energy, which is expected to contribute to 27% of China’s total energy consumption by 2020. The government has also mandated that major cities should achieve “good” or “excellent” air quality at least 80% of the time in a given year.
The top-level commitment and broad policy support for greening the economy has led to significant interest among private investors, targeting sectors ranging from waste treatment and energy efficiency technologies to renewable energy and electric vehicles.
Guangxi Bossco is primarily engaged in liquid and solid waste treatment and soil restoration. Overseas markets contributed to just 2% of its 2016 revenue, though the company is actively seeking investment opportunities globally, in order to expand into other market segments within the environmental industry.
In January 2017, the company signed an agreement to acquire 100% equity of RemedX Remediation Service Inc. for an estimated AUD$13 million. The target asset is a Canada-based soil restoration company.