China to invest 2 trillion yuan in low-carbon economy

Reuters News
Posted: Sep 25, 2011 4:18 AM

BEIJING (Reuters) - China will invest 2 trillion yuan (about $313 billion) to promote a green, low-carbon economy in the next five years, a senior economic planning official was quoted on Sunday as saying.

The government will promote low-carbon development with a variety of projects during China's current five-year plan which began this year, Xie Zhenhua, vice minister of the National Development and Reform Commission was quoted by the China Daily newspaper as saying.

The green economy plan includes setting up 100 bases for demonstrating resource utilisation and launching low-carbon pilot programmes in five provinces and eight cities, Xie said at the Second China International Eco-City Forum in Tianjin, east of Beijing.

Chinese leaders have often stated their commitment to cutting China's energy consumption and developing green technology.

(Reporting by Terril Yue Jones)