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5t-yuan investment plan to spur energy development

By Qiang Xiaoji (chinadaily.com.cn)
Updated: 2010-07-27 16:52

The new energy development plan for 2010-2020 drafted by the National Energy Administration (NEA) is finished and awaits approval from the State Council, the country's Cabinet, www.cs.com.cn reported Tuesday.

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Specialists said the plan aims to boost 5 trillion yuan ($738.09 billion) in investments, bringing huge opportunities to both the new energy industry and traditional energy industries such as steel and cement.

The original plan includes development in new energy sectors such as nuclear energy, wind power, solar power and biomass energy and other renewable energy sectors. Later, it was expanded to include the upgrading of some traditional energy sectors such as smart grid and clean coal.

Analysts said the adjustment indicated that both the development of new energy and the upgrades of traditional energy are the focus of China's energy restructuring.