Tuesday, February 8, 2011

China's Most Recent Five Year Plan

China’s most recent five year plan (FYP) covers the period 2011-2015, and China’s National People’s Congress (NPC) is expected to approve the final version in March 2011. This FYP is expected to shift China’s development agenda towards sustainable growth.

The FYP will strengthen China's energy efficiency in key sectors such as heavy industry, construction, and transportation. China will also support the development of energy efficiency technologies. In addition, management on supply and demand sides will be improved including national utility demand-side management (DSM) .

China may further boost prices of fossil fuels, as well as levy carbon, environmental and resource taxes.

China plans to implement a domestic carbon-trading market to reduce carbon emissions and promote clean-energy industries. A cap-and-trade market in China may be in place by 2020 and could begin targeted applications as early as 2013.

China will support the development of clean energy technologies and boost its domestic clean-tech market. China may invest up to US$1.5 trillion over the next five years in seven strategic industries, such as alternative energy, alternative-fuel vehicles, and environmentally friendly technologies. Approximately US$300 billion will be invested in the construction of smart grid in China in the same time.

China is also planning on paying more attention on its coastal waters. China's marine ecological restoration is focusing on measuring the amount of organic pollutants found in surface water by monitoring chemical oxygen demand. They are also limitating emissions of nitrogen and phosphorus which causes eutrophication. New coastal construction will be strictly examined to ensure they are not adversely impacting the environment.

© 2011, Richard Matthews. All rights reserved.

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