China’s National Development and Reform Commission (NDRC) recently allocated 2.4 billion yuan ($355 million) to save energy and reduce carbon emissions to boost efforts to shift to a greener economy. The funds will be used to develop innovative technology in low carbon, zero carbon, carbon removal and energy saving, and to promote a circular economy, NDRC said.
China aims to achieve carbon neutrality by 2060.
The money will support the establishment of development strategies for major regions, with the Beijing-Tianjin-Hebei region, the Yangtze River Economic Belt and the Guangdong-Hong Kong-Macao Greater Bay Area being given preference. A balanced development across regions is being considered, the country’s top economic regulator said.
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