Business
North China's Tianjin city was selected as a national fiscal policy demonstration city of energy conservation and emission reduction issued by the Ministry of Finance of China and the National Development and Reform Commission (NDRC), according to Tianjin Municipal Finance Bureau.
Tianjin will continue to implement a new round of emission reduction plans from 2015 to 2017. It has received stronger financial support from both the city's and the districts' financial departments. In addition, the Central Government will provide financial incentives to the project.
According to the guidelines of these financial incentives written by the Ministry of Finance and the NDRC, demonstration cities will enjoy financial support according to national policies on energy conservation, emission reduction, and new energy development.
Moreover, for projects that are not included in the existing policies, the Central Government will offer comprehensive rewards according to project investment, local input, and the effect of energy conservation and emission reduction.
In the coming three years, Tianjin will push forward its energy conservation and emission reduction works by developing low carbon industries, clean transportation, green construction, intensive services, renewable energy, and new energy.
In 2015, the city plans to outperform by 25 percent the goal that was set in the twelfth five year plan. The city also plans to outperform by 23 percent the annual goal for both 2016 and 2017. During that time, all coal fired power generation plants which are above 300,000 kilowatts will be transformed.
The transformation is expected to reduce 3,182 tons, 3,183 tons, and 10,611 tons of dust, sulfur dioxide, and oxynitride emissions per year respectively, which equals 75 percent, 30 percent, and 50 percent of the total emissions respectively. Pollution emissions will be greatly reduced with the help of such a transformation.
