China Committed to Reduce CO2 Emissions

The Ministry of Commerce (Mofcom; Beijing) says the Chinese government remains committed to the plan announced last November to cut its carbon intensity 40%-45% by 2020, compared with 2005 levels. The government is shifting its focus from the traditional ‘profit maximization’ to ‘welfare maximization’, Mofcom says. In the Rmb4 trillion ($588 billion) economic stimulus plan, Rmb210 billion of funds were allocated for energy saving, carbon reduction and ecological construction. And Rms370 billion was used for innovation, restructuring and...

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