21世纪经济报道·2026-01-27 05:34Core Viewpoint - The article discusses the significant advancements in waste management in China, particularly focusing on the large-scale garbage relocation and treatment project at the Yulong landfill in Shenzhen, which is the largest of its kind in the country. The project aims to address historical waste issues through innovative technologies and has implications for the broader waste-to-energy industry in China [1][19]. Group 1: Project Overview - The Yulong landfill, established in 1983 and closed in 2005, contained approximately 2.5 million cubic meters of waste, equivalent to filling 1,000 Olympic-sized swimming pools. The full excavation and relocation project commenced in 2024 and is expected to be completed by September 2026 [1]. - The height of the garbage mound, which reached 110 meters, has been completely leveled, and the site is now covered with large dust-proof fabric. Nearby, a waste sorting workshop with six giant conveyor belts is operational, ensuring that residents do not see or smell the waste [3]. Group 2: Waste Management Technology - Traditional landfill methods have led to significant land use and secondary pollution issues, prompting a shift towards waste incineration as a mainstream waste management solution in urban areas. This shift has alleviated the "garbage siege" problem that plagued many cities in the 1990s [5]. - China has made substantial progress in waste-to-energy technology, transitioning from a follower to a leader in the field. The country has developed a complete industrial chain for waste incineration, including waste collection, equipment manufacturing, and project operation [6][8]. Group 3: Market Dynamics - The market for waste incineration power generation in China is projected to reach approximately 73 billion yuan in 2024, a decrease from nearly 100 billion yuan in 2020 due to the reduction in available waste for incineration [9]. - Major players in the waste management sector include Everbright Environment, which holds over 15% market share, followed by companies like Sanfeng Environment and Huanlan Environment. The industry is characterized by a competitive landscape with a few leading firms [5][15]. Group 4: Regulatory and Operational Framework - The Chinese government has prioritized waste incineration as a key direction for solid waste management since the "11th Five-Year Plan." The strategic importance of waste-to-energy has increased with the introduction of the "dual carbon" goals and the concept of "waste-free cities" [8]. - The most common business model for waste incineration projects is the BOT (Build-Operate-Transfer) model, where companies are granted long-term operating rights to manage waste treatment facilities [16][18]. Group 5: Challenges and Innovations - Some regions are experiencing a "not enough waste to burn" phenomenon, particularly in newly constructed incineration plants in county-level areas, where the actual waste generation is lower than anticipated [15]. - Companies are exploring new waste sources, such as industrial solid waste and sludge, and are investing in technology innovations to enhance operational efficiency and project quality [18].