China has earmarked $5.9 billion to fund environmental protection and energy-saving projects this year, the finance ministry said on Monday. In a statement posted on its website, the ministry said the funds would be used to scrap obsolete capacity, improve sewerage in central and western China and clean up several rivers across the country.
It also said that China would consider setting up a “pay to pollute” regime and a trading system for pollution quotas. The investments underscore the growing political emphasis on sustainable development in a country with some of the world’s most polluted air and rivers.
More Money for Clean Up
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