China plans to $8.13 billion fund to fight pollution
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)