News

China to invest in low-carbon economy

Publish date: October 7, 2011

In China low-carbon development will be promoted in the country’s current five-year plan, which began this year. In this time span China is to invest 2 trillion yuan (over $300 billion) in this particular sector, according to Reuters.

The money will be spent on creating low-carbon programmes in five provinces and eight cities, as well as 100 centres focusing on use of resources.

China is also attempting to tighten its air quality standards for thermal power plans and to develop a carbon dioxide capture and storage (CCS) industry. China Datang Corporation and Alstom announced on the 21st of September that they will jointly develop carbon dioxide capture and storage (CCS) demonstration projects in China (see: link).

According to media reports, China plans to double spending on CCS over the next five years to 400 million yuan (over $60 million).

Read more: en.ndrc.gov.cn/