Chinese Government Officials Consider Energy Subsidy Reform

In response to current climate changes, the National Development and Reform Commission (NDRC) is heading measures to promote green energy low carbon production development in government branches such as the Ministry of Industry and Information, Ministry of Transportation and Communication, Ministry of Housing and Urban-Rural Construction of the People’s Republic of China in areas like industries, architecture, transportation and public facilities, and urbanization.

With the investment of RMB 23 trillion into China’s 12th Five-Year Plan for Energy Saving and Emission Reduction, market share for high efficiency energy saving technology and equipment dramatically rose from 5 percent to 30 percent.

NDRC assistant director Jie Zhenhua states:”We plan to further our development of low carbon industries, low carbon transportation, low carbon cities, low carbon communities, low carbon businesses, and low carbon industrial parks, and research a broader green energy product consumption subsidy policy.”

According to Chinese media, China hopes to further improvements to the country’s economic policies by researching broader green energy production consumption subsidy policies. The NDRC will establish a low-carbon energy system of product identification and authentication in which to select products to carry out an energy-saving low carbon certification pilot so as to guide and promote green energy low carbon consumption.

Additionally, according to media sources the State Council has already agreed to prepare passing the HuiMin project which will give incentives to products with high energy efficiency standards and equipment. The council will also introduce energy saving environmental protection equipment tax incentives to improve resource utilization. There will also be taxes to curb excessive consumption, implementation of green credit, environmental impairment liabilities insurance, catastrophe insurance, expansion of different financial institution’s credit support power towards energy efficient low carbon project, and construction of a green energy rating system.

 

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