Govt pumps 6b yuan into conservation

The government has earmarked 6 billion yuan ($774 million) to pay for energy conservation projects to be launched before the end of this year, a senior official from the top economic planner said yesterday.

"The special funds will support 10 major energy-saving projects, such as reducing the use of petroleum and developing petroleum substitutes and green lighting technology. It is hoped these developments will help the country use less energy," Xie Zhenhua, vice-minister of National Development and Reform Commission (NDRC), said at the China Energy Saving and Emission Reduction Forum 2007.

"Incentives have been devised to encourage enterprises to save energy. Enterprises will receive financial aid according to the energy they can save while reducing emissions."