$3.2b to raise energy efficiency

The government plans to spend 23.5 billion yuan ($3.2 billion) this year to raise energy efficiency and cut pollutant emissions, a senior finance official said yesterday.

The pricing regimes for energy and resources will also be reformed, and charges raised for wastewater treatment, said Zhang Shaochun, vice-minister of finance, at a national conference on energy efficiency.

Of the fund, 7 billion yuan ($947.2 million) will be earmarked as grants to encourage major energy-efficient projects, Zhang said.