China to put low carbon at heart of five-year plan
Reuters reports nuclear and high-speed rail projects will dominate $1.5tn investment push
Fresh details have emerged about the content of the Chinese government’s imminent five-year plan, providing fresh evidence that low-carbon industries will dominate the investment programme that could top $1.5tn over the next five years.
Citing sources close to the government, Reuters reported yesterday that officials are now putting the finishing touches to a plan that is expected to see investment targeted at seven key industries.
As previously reported, the likely beneficiaries are expected to be alternative energy, energy-efficient technologies, high-end equipment manufacturing, biotechnology, advanced IT, advanced material and alternative-fuel cars.
However, a source told Reuters that the big winners are expected to be nuclear power and high-speed rail projects, both of which the government has deemed critical to meeting its goal of establishing China as an industrial giant by 2015.
The new strategy could see a softening of support for wind and solar energy, particularly after the country’s National Development and Reform Commission recently raised concerns that the wind power industry is facing overcapacity.
Officials told Reuters the government is considering raising its target for nuclear energy capacity by 2020 from 40GW to more than 80GW. The country currently boasts just 10.8GW of nuclear capacity, suggesting a huge rollout of new reactors will be required over the next few years.
The government source also told the news agency that private firms are expected to lead the new investment drive supported by a range of incentives such as tax breaks, low-interest bank loans and government grants.
Fresh details have emerged about the content of the Chinese government’s imminent five-year plan, providing fresh evidence that low-carbon industries will dominate the investment programme that could top $1.5tn over the next five years.
Citing sources close to the government, Reuters reported yesterday that officials are now putting the finishing touches to a plan that is expected to see investment targeted at seven key industries.
As previously reported, the likely beneficiaries are expected to be alternative energy, energy-efficient technologies, high-end equipment manufacturing, biotechnology, advanced IT, advanced material and alternative-fuel cars.
However, a source told Reuters that the big winners are expected to be nuclear power and high-speed rail projects, both of which the government has deemed critical to meeting its goal of establishing China as an industrial giant by 2015.
The new strategy could see a softening of support for wind and solar energy, particularly after the country’s National Development and Reform Commission recently raised concerns that the wind power industry is facing overcapacity.
Officials told Reuters the government is considering raising its target for nuclear energy capacity by 2020 from 40GW to more than 80GW. The country currently boasts just 10.8GW of nuclear capacity, suggesting a huge rollout of new reactors will be required over the next few years.
The government source also told the news agency that private firms are expected to lead the new investment drive supported by a range of incentives such as tax breaks, low-interest bank loans and government grants.
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