China: State Council plans to invest CNY2.366tn over 2011-15 on energy conservation
China plans to invest about CNY2.366tn (US$372.5bn) in projects for energy conservation and carbon-emissions reduction over the 2011-15 period, the State Council, said in a statement.
The statement, which was issued to ministries and provincial-level governments on 6 August but only released to the public this week, didn't disclose the amount already invested or how much would be spent over the coming years.
The projects supported by the investment will help save on 300Mt of standard coal in the five-year period or 45 per cent of the total goal of 67Mt, according to the statement.
Overall, China aims to bring down energy consumption per unit of gross domestic product 16 per cent by 2015 from 2010 levels, the State Council said.
The cabinet also called for growth in fixed-asset investment to be controlled at a "reasonable" level, especially in industries that create a lot of pollution, such as thermal power generation, steel, cement and paper making.