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China

$60 bn to be spent on nuclear, wind, solar energy

BEIJING - the Chinese government plans to invest a total of 500 billion yuan (US$60.4 billion)by 2020 to build facilities that generate electricity without using fossil fuels like coal.

Of this, 360 billion yuan has been earmarked for building nuclear power plants, with the rest to be used for facilities that use such energy sources as wind and solar power.

Plans include constructing wind- and solar-based power generation facilities mainly in such areas as the Inner Mongolian and Tibet autonomous regions.

Meanwhile, because of a sharp rise in demand for gasoline, the government has set a target of reducing new passenger cars' average fuel consumption by more than 15 per cent from the 2003 level by 2010.

(Asia Pulse/Nikkei)

Aug 19, 2004

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