China will earmark 41.8 billion yuan this year for the drive to reduce energy consumption and pollution, the Ministry of Finance said yesterday.
The country is also considering launching tax policies and establishing a compulsory government procurement regime to push the drive, it said.
"This year is crucial for accomplishing the targets for energy use and pollution cuts during the 2006-10 period," the ministry said in a statement.
More than half of the money would be used as award funds for major environmentally friendly projects, building of urban pollution reduction networks, elimination of technologically backward equipment and pollution treatment in major rivers and lakes.
Zhang Shaochun, vice-minister of finance, said the country will improve statistical, reporting and auditing work concerning environmental projects. The award fund will be given to projects that meet energy-use targets while punishment will be meted out to those that fail to achieve the goals.
The country will improve a fee for urban wastewater treatment and discharge to encourage enterprises to reduce energy use and cut pollution. It will also tap the use of market-based mechanisms to make waste-discharge and emission rights tradable.
China saw a 3.27 percent year-on-year drop in its energy consumption per unit of GDP last year.
Source: China Daily
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