China Commits $330bn to Combat Water Pollution

Feb 19th, 2014 | By | Category: China, Financing, News, Pollution

Pudong_Panov2-340x255The Chinese government has revealed plans to invest up to ¥2 trillion (US$330 billion) in projects aimed at combating water pollution as the country expands its efforts to address environmental concerns.

The Ministry of Environmental Protection (MEP) has set the ¥2 trillion budget which exceeds the ¥1.7 trillion that was recently announced to tackle the country’s air pollution crisis.

The Ministry outlined plans to develop a new market for clean technology companies specialising in water solutions.

China has been affected by a series of water pollution incidents in recent months and it has been reported that there is a growing concern amongst officials that it could spark significant civil unrest.

Further reports have also indicated that the government is considering granting significantly wider powers to the Environment Ministry that would make it easier for the authorities to punish breaches of environmental rules.

Amendments to China’s environmental laws are also imminent that would increase fines for breaches of green regulations. The changes would also see the establishment of a new emissions monitoring system that would make it a criminal offence for companies to deactivate emissions monitoring equipment and pollution control technologies.

The latest developments came as the Chinese and US governments issued a joint statement this week pledging to boost efforts to reduce CO2 emissions.

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