Tuesday, September 4, 2007

China plans $265 billion renewables spending

China plans to invest 2 trillion yuan ($265 billion) in renewable energy by 2020, most of it corporate cash, to wean itself off polluting coal as it aims for cleaner growth, a top energy planner said on Tuesday.

Chen Deming, vice-chairman of the National Development and Reform Commission, added that China aimed to be using domestically made and designed equipment by then, which could cut prices for clean energy worldwide.

"We expect the majority of the funds to come from companies," Chen said when asked about the 2 trillion yuan forecast....MORE from Reuters

Meanwhile the AP is reporting:
China Asks Leeway on Greenhouse Gases

And Press TV says:

China's military growth not a threat
The Chinese defense minister, Cao Gangchuan, has said that China's military development is not a threat aimed at any country or people.

Cao said that "some people who are not well informed are making noises about china becoming a military threat, but this is a groundless claim."