China continues toward green channel
By Pan Xiaoyi |
June 9, 2010, Wednesday
|
Print Edition
Print Edition
CHINA will continue to unveil policies to encourage energy conservation to achieve sustainable green economic growth as well as accelerate reform of its resource tax and resource prices, senior government officials said.
The government will offer financial support to encourage the development of a recycling economy. Special funds will be established to boost technology innovation in this sector, Xie Zhenhua, vice director of the National Development and Reform Commission, said at the Global Green Business Summit in Shanghai yesterday.
China will invest 8.83 billion yuan (US$1.3 billion) in energy conservation in sectors such as manufacturing, transport, construction and raw materials this year, Xie said.
China's 4 trillion yuan stimulus package which helped drive the country out of the economic meltdown included a combined 48 billion yuan investment in green business, including energy saving, emission reduction, ecological construction and innovation, making up for 14.5 percent of the total spending, according to the Ministry of Environmental Protection.
The output of the environmental protection industry is expected to reach 1 trillion yuan by the end of this year, said Wan Bentai, the ministry's chief engineer.
Wan also said China will actively reform the resource tax and resource prices as well as step up efforts to map out policies for green credits, green trade, green securities, green tax and punishment.
To qualify as a green stock, high-polluting enterprises have to pass environmental tests to get approvals before their listings.
Earlier this month, the government imposed a 5 percent tax on crude oil and natural gas exploration in the Xinjiang Uygur Autonomous Region on a price basis - the first time it has been shifted from levying on a volume basis to conserve energy.
The government will offer financial support to encourage the development of a recycling economy. Special funds will be established to boost technology innovation in this sector, Xie Zhenhua, vice director of the National Development and Reform Commission, said at the Global Green Business Summit in Shanghai yesterday.
China will invest 8.83 billion yuan (US$1.3 billion) in energy conservation in sectors such as manufacturing, transport, construction and raw materials this year, Xie said.
China's 4 trillion yuan stimulus package which helped drive the country out of the economic meltdown included a combined 48 billion yuan investment in green business, including energy saving, emission reduction, ecological construction and innovation, making up for 14.5 percent of the total spending, according to the Ministry of Environmental Protection.
The output of the environmental protection industry is expected to reach 1 trillion yuan by the end of this year, said Wan Bentai, the ministry's chief engineer.
Wan also said China will actively reform the resource tax and resource prices as well as step up efforts to map out policies for green credits, green trade, green securities, green tax and punishment.
To qualify as a green stock, high-polluting enterprises have to pass environmental tests to get approvals before their listings.
Earlier this month, the government imposed a 5 percent tax on crude oil and natural gas exploration in the Xinjiang Uygur Autonomous Region on a price basis - the first time it has been shifted from levying on a volume basis to conserve energy.
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