HOME   NEWS   SPECIAL REPORT   PHOTO   COMMENTARY   VOICE   LEARNING CHINESE
NEWS > Business
China earmarks 10 bln yuan for energy efficiency, discharge reduction
2007-07-27 05:16:31 Xinhua English

BEIJING, July 27 (Xinhua) -- The Chinese government has set aside another 10 billion yuan (1.33 billion U.S. dollars) this year to improve energy efficiency and cut pollutant discharges, sources with the National Development and Reform Commission (NDRC) said on Friday.

The move has brought the total annual investment for the purposes to 21.3 billion yuan.

The money is to be used to continue eliminating workshops with outdated production methods and help upgrade production technologies and the management of high energy-consuming and polluting industries.

Of the total, 9 billion yuan will be used to improve management of energy efficiency projects and the 10 major energy saving projects, including the environment-friendly, energy saving in government departments and organizations and oil efficiency and substitution programs. The money is 13 times more than the 2006 amount.

Last year, China's energy consumption for every 10,000 yuan of GDP dropped by just 1.23 percent, failing to meet the annual average goal of 4 percent. The failure was due to the fact that high energy-consuming and polluting industries continued to grow rapidly and contribute significantly to the country's annual economic growth, said Zhou Dadi, of the NDRC Energy Research Institute.

The investment appeared to have achieved better results, according to government figures.

From January to May, energy consumption per unit of GDP dropped2 percent from the same period last year, and emissions of sulfur dioxide fell by 0.6 percent.

However, high-energy-consuming and polluting industries continued to expand rapidly in the first half, according to the NDRC.

China had much yet to do to improve its economic growth pattern, said Han Yongwen, secretary-general of the NDRC.

MORE NEWS
Hyundai in slow lane as China competition bites  
Power play by Datang bonus for investors  
Areva SA to build nuke generators in China  
China to spend US$2.81b to save energy, cut emissions  
China gets a ratings boost from Moody's  
SUVs sell faster but buyers eye gas prices  
Shanghai stocks slip from record high  
China's first half summer grain output rises despite disasters  

SINA English is the English-language destination for news and information about China. Find general information on life, culture and travel in China through our news and special reportsˇAor find business partners through our online Business Directory. For investment opportunities with SINA, please click the link "Investor" below.
| About SINA | Investor | Media Kit | Comments or Question? |
Copyright © 1996-SINA Corporation, All Rights Reserved