As garbage sorting has become a part of Chinese residents’ life, garbage disposal companies have started to flourish. According to statistics, more than 7,300 companies were newly established in 2019 in China, 26.49 percent of the total number of such companies, Chinanews.com reported on Nov.22.

More than 10,000 garbage recycling companies have a registered capital of above 10 million yuan. Meanwhile, Chinese garbage disposal companies own more than 38,000 patents in total.

Some of the companies are listed companies. For instance, Dynagreen Environmental Protection Group based in the southern Chinese city of Shenzhen witnessed a turnover of 1.253 billion yuan in the first three quarters of the year.

The prosperity of the sector is closely related to the promotion of garbage sorting. A total of 237 Chinese cities at the prefecture-level or above have adopted waste sorting schemes, according to the Ministry of Housing and Urban-Rural Development.

Waste sorting has been implemented in 53.9 percent of residential communities in 46 cities, among which 14 cities have seen more than 70 percent of neighborhoods following through on the practice, including Shanghai, Xiamen, Ningbo and Guangzhou.

Industry insiders pointed out that garbage recycling companies are facing a good opportunity as the country is taking efforts to make garbage sorting a habit of all residents, adding that enterprises should grasp the opportunity so as to gain a bigger pie in the market.

Economist Song Qinghui said the key to making profits for these companies is to master high-quality recycling technologies.