| 25-10-2007
The
country plans to spend around one-tenth of its 2006 GDP in the next decade or
so to develop renewable energy and cut greenhouse gas emissions, the top economic
planner revealed recently. "Overall, around 2 trillion yuan (US$265 billion)
of investment is needed to meet the renewable energy target by 2020," the
National Development and Reform Commission (NDRC) said in a statement. China generates
much less greenhouse gases than developed countries, but treats the issue seriously
and spares no effort to cut carbon dioxide emissions by enhancing energy efficiency
and developing renewable energy. Analysts
say most of the 2 trillion yuan investment by 2020 will come from the market,
with only a small proportion from the government. Chinese government will adopt
measures to guide and encourage the development of renewable energy and come up
with various taxation and fiscal incentives, including subsidies and tax breaks. Editor:Frederick
Wei from Chinabuses.com
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