Lower emissions and conservation of energy are targets of new plan
Fuji Electric displays its energy-saving and environmentally friendly electric engines at the China International Industry Fair 2010 held in Shanghai from Oct 9 to 13. China is encouraging more foreign investment in the country's green industries. [Photo / China Daily]
BEIJING - China invested a total of 2 trillion yuan ($301 billion) in plans to save energy and reduce emissions during the 11th Five-Year Plan (2005-2010).
The investment came as the world's second-largest economy made efforts to develop a green economy, a top official from the National Development and Reform Commission (NDRC) said on Monday.
The government allocated more than 200 billion yuan for energy conservation, emissions reduction, and environmental protection, which as a result, mobilized over 2 trillion yuan from all sectors of society to be pumped into related industries, said He Bingguang, deputy director of the environment and resources department of the NDRC.
The NDRC is laying out plans for China's green industry during the 12th Five-Year Plan (2011-2015), including energy saving and environmental protection, new energy development and ecological construction.
The country implemented a series of measures to meet the energy efficiency targets of the 11th Five-Year Plan. For example, more than 70 percent of coal-fired power stations have installed the Flue Gas Desulphurization (FGD) system, and the government has been encouraging clean-up efforts through a series of incentives for power generation companies, He said.
Other measures included a mechanism of targets evaluating energy efficiency and contract-based energy management implemented by local governments, according to He.
A total of 998 energy-consuming enterprises achieved their energy-saving goals, he added.
There is a huge potential to tap in the energy-saving market over the next Five-Year Plan, He said.
To further develop China's green economy, more foreign investment should flow into the country's eco-friendly industries, officials from the Ministry of Commerce said.
The government has been encouraging more international coordination in new energy fields, and is vigorously seeking cooperation and investment from abroad.
"The Chinese government will continue to create a fairer and more transparent investment environment for foreign businesses which will be accorded treatment equal to domestic ones," said Jiang Yaoping, vice-minister of commerce.
For the forthcoming 12th Five-Year Plan (2011-2015), the country's blueprint for economic development for the next five years, a series of policies will also be launched "to further open up China's market and deepen international cooperation in many high-tech fields, such as electric automobiles," Jiang added.
"In developing the electric automobile industry, China still has a lot to learn from companies in Japan, Europe and the United States, both in terms of advanced technologies and managerial expertise. We will encourage more cooperation between domestic companies and those from the countries mentioned," said Gao Dongsheng, a senior officer with the Ministry of Industry and Information Technology.
"The principle of transparency is essential to the implementation of these policies. This success rate (of foreign companies in public bidding) has illustrated China's achievement in providing a fair and transparent investment environment," Jiang said.
According to data released by the Ministry of Commerce, foreign companies participated in 8,863 public bids for the purchase of machinery and electronic products in 2009, and won 6,887 of those projects.