China plans to $8.13 bil­lion fund to fight pol­lu­tion

China Daily (Canada) - - NEWSCAPSULE -

In a move to curb pol­lu­tion, China will launch an $8.13 bil­lion en­vi­ron­men­tal pro­tec­tion fund, China Se­cu­ri­ties Jour­nal re­ported.

The fund would use low or no-in­ter­est loans to in­crease in­vest­ment in crit­i­cal sec­tors and would re­ceive in­vest­ment from the Na­tional De­vel­op­ment and Re­form Com­mis­sion (NDRC) and the Min­istry of Fi­nance, the news­pa­per said.

Rapid in­dus­tri­al­iza­tion of the world’s sec­ond-big­gest econ­omy has been ac­com­pa­nied by se­vere pol­lu­tion of its air and wa­ter sup­plies. The cen­tral gov­ern­ment has strug­gled to in­cen­tivize lo­cal gov­ern­ments and com­pa­nies to step up their anti-pol­lu­tion ef­forts.

The drive to re­duce pol­lu­tion has boosted share val­ues for com­pa­nies ex­pected to ben­e­fit from in­creased gov­ern­ment spend­ing in re­cent months. (Photo 5)

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