China to boost green investment

Updated: 2011-09-25 08:25

By Li Xiang and Rong Xiaozheng (China Daily)

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China to boost green investment

Zong Guoying (R), head of the Tianjin Binhai New Area, shows visitors new technology at the Second China (Binhai Tianjin) International Eco-City Forum and Expo. [Photo by Jia Lei / for China Daily]

TIANJIN - The Chinese government will invest 2 trillion yuan ($313 billion) in the area of green economy and low-carbon development in the next five years, cutting 16 percent of per-unit GDP energy consumption compared to 2010, a senior official from China's top economic planner said on Saturday.

"During the Twelfth Five-Year Plan period (2011-15), the Chinese government will boost low-carbon development from 10 perspectives," Xie Zhenhua, vice minister of National Development and Reform Commission, said at the Second China (Binhai Tianjin) International Eco-City Forum.

Promoting circular economy projects, establishing 100 demonstration bases for resource comprehensive utilization and launching low-carbon pilot programs in five provinces and eight cities are all methods China will use, Xie said.

In recent years, the Chinese government has issued and put in place a series of policies encouraging low-carbon development.

During the Eleventh Five-Year Plan period (2006-10), energy consumption per-unit GDP had decreased by 19.1 percent. And carbon dioxide emission was cut by around 1.5 billion tons.

By the end of 2015, per-unit-GDP energy consumption of China will drop by 16 percent over 2010, and the average input-output ratio for resources is expected to jump by 15 percent, Xie stressed.

It is estimated that an additional 1.7 billion people will move into cities in developing Asia and Africa countries in the next three decades.

The success of Chinese cities, especially Tianjin, in low-carbon development and eco-city planning, will provide valuable experiences for counterparts in developing countries, according to Lasse Gustavsson, executive director, conservation of World Wildlife Fund International.

"For boosting low-carbon development, Tianjin Binhai New Area allocates 200 million yuan every year to encourage all kinds projects that improve energy saving and emission reduction," said He Lifeng, party secretary of Tianjin Binhai New Area.