newest economic engine

China got greened?

The new economic engine for China shall annually invest 1 trillion yuan into low-carbon technology development – $150 Billion each year until 2050.

“The money would be mainly used to introduce technologies that would raise the energy efficiency of end-users in industry, construction and transportation,” Bai Quan, another panel member, was quoted as saying by The China Daily.

China has signaled that it may be willing to adopt carbon intensity targets relative to economic growth and to make a huge investment in “new energy”, including nuclear, solar and more efficient coal plants.

Performance of officials to be measured not just by how they spur economic growth but also by the environmental soundness of that growth.