China Announces Plan to Cut Energy Consumption

In a bid to strengthen China’s energy , the central government announced plans on Tuesday to spend nearly $400 billion to cut China’s by 300 million tonnes of standard coal before 2015, via projects aimed at energy conservation and pollution reduction . From Reuters:

A report from China’s State Council, or cabinet, said the will take China almost halfway to meeting its target to cut the energy intensity 16 percent below levels by 2015.

The has earmarked $155 billion of the money for projects that shrink energy use, and while the plan did not detail which types of projects or sectors would benefit from the funds, a big share of the cash is expected to go to industry.

The Ministry of Industry and (MIIT) in February set an overall 21 percent energy intensity reduction target for industry from 2010 to 2015.

The State Council plan said steel producers must reduce their energy use per unit of production by a quarter over the five years, coal-fired by 8 percent and cement manufacturers by 3 percent.

Last week, The China Daily reported that China’s had cut its energy usage by 2 percent last year.

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