Government and Policy

China steps up energy saving in transport

(Xinhua)
Updated: 2011-07-06 13:47

BEIJING - China will strengthen energy saving and emission reductions in road and waterway transport in the next five years as the central government decides to allocate funds to support it.

According to a document jointly released Wednesday by the Ministry of Finance and the Ministry of Transport, public institutions and companies that carry out energy-saving and emissions-reducing work will be eligible for the funding support.

The document did not say how much the aggregate funding during the five years ending 2015 will amount to, but those engaged in the program may receive up to 10 million yuan ($1.55 million) in awards for their energy-saving and emission-reduction efforts.

Companies and public institutions will be awarded with as much as 600 yuan for each metric ton of the equivalent of coal they save each year, the document said.

Meanwhile, those using alternative fuels will be awarded up to 2,000 yuan for each ton of standard oil they substituted, according to the document.

In efforts to build a more environmental-friendly society, the government announced in late 2009 that it will reduce the intensity of carbon dioxide emissions per unit of economic output in 2020 by 40 to 45 percent compared with the level of 2005.