China and Spain on Thursday pledged to expand bilateral cooperation in trade and renewable energy in a bid to advance the comprehensive strategic partnership.
Central government-funded expenditures on energy savings and emission reductions, and renewable energies development will total 97.9b yuan this year.
China will invest more than 2 trillion yuan in promoting energy-saving and low-carbon projects during the 12th Five-Year Plan period.
China will provide financial subsidies of 26.5 billion yuan ($4.2 billion) to stimulate the consumption of energy-saving products.
China may publish the names of banks and companies which did not perform well in regards to green credit and environmental protection.
The Chinese government has established a goal of having green buildings account for 30 percent of new construction projects by 2020.
China and EU will expand collaboration in alternative energy sector to achieve shared objectives in terms of energy conservation and emissions reduction.
A new law and guidelines on the use of a national ecological compensation plan are currently being formulated and will be launched before 2015.
Swedish firms are tapping China's growing demand for environmental technology, a potential bright spot in Sino-Swedish economic cooperation.
Beijing will continue to subsidize the scrappage of aging and heavy-diesel vehicles in response to concerns over the city's air pollution.
With a record 1,125 vehicles being showcased at the biannual Beijing Auto Show, carmakers have shifted to top gear in their bid to woo Chinese consumers.
China may still become a global leader in the electric vehicle industry if policymakers and manufacturers shift their focus on plug-in hybrid electric vehicles.
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