Officials Confirm China to Invest US $157B in Environment Over Next Five Years

March 31, 2005

China's investment in environmental protection is expected to reach 1,300 billion yuan during the 2006-2010 plan period in line with the country's rapid economic growth, officials at the State Environmental Protection Administration confirmed this week.

The investment will account for 1.4 to 1.5 percent of China's GDP, said Chen Bin, deputy director of the administration's financial department, during an international seminar on investing in and financing for environmental protection in China, which opened on Tuesday.

Wang Yuqing, deputy director of the administration, also said at the seminar that over the next five years the government will focus efforts on ensuring the safety of drinking water for urban and rural citizens, combating the pollution of key rivers and lakes, controlling air pollution in big cities and ameliorate soil pollution.

Chen said the Chinese government pays great attention to environmental protection and lists the issue a top priority.

The one-day seminar was jointly sponsored by the China Environmental Protection Foundation, the United Nations Development Program and the China International center for Economic and Technical Exchange.

Source: People’s Daily Online