Plan to boost green economy awaits council's nod

China will accelerate the industrialization of its renewable resources to foster a new industry with strategic significance, said Xie Zhenhua, vice minister of the National Development and Reform Commission on Friday.

"The NDRC has drafted the National Sustainable Economy Development Plan for 2011-15 to be submitted to the State Council for approval soon," Xie said in a keynote speech during the First Chinese Renewable Resources Industry Development Summit Forum held in Qingdao, Shandong province.

The plan calls for 10 demonstration principles, 100 demonstration cities and 1,000 demonstration enterprises and industrial parks, as well as a series of preferential policies regarding finance, tax, pricing and investment in a bid to accelerate the development of China's green economy.