Renewable energy set for China fund boost
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Shanghai Daily, July 31, 2013
China's total spending on developing renewable energy could total 1.8 trillion yuan (US$294 billion) in the five years through 2015, part of its efforts to fight climate change.
The country may also invest a separate 2.3 trillion yuan in major energy-saving and emission-reduction projects during the period, Xie Zhenhua, vice director of the National Development and Reform Commission, told a conference in Beijing yesterday, according to Bloomberg News.
The comments by Xie, also China's chief representative on climate change, highlight the government's efforts to counter pollution amid industrialization and urbanization.
Xie also said the government will gradually expand a carbon trading pilot program to more cities starting from 2015, hoping to create a national market.
Seven cities and provinces, including Shanghai, were selected by the NDRC in late 2011 to set up regional carbon trading markets.
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