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pau304882 : China to improve renewable energy financing

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  • China to improve renewable energy financing (2009-08-26)
  • Chinas legislators have submitted a proposal to improve funding for renewable energy development as the worlds second-largest energy consumer seeks to reduce dependence on fossil fuels. A draft amendment to the Renewable Energy Law was passed to the Standing Committee of the National Peoples Congress on August 24, advocating the establishment of a fund jointly financed by central government fiscal revenue and surcharges on renewable energy consumption. China aims to raise the proportion of power generated by renewable energy to 16 percent of total consumption by 2020 from 7 percent in 2006.    Photo by Imaginechina
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