China emphasizes emission reduction

This year, Chinese authorities plan to close down small thermal power units with a capacity of 10 million kilowatts, phasing out iron production capacity of 25 million tons, and steel production capacity of six million tons. And there will be greater financial support from the central government for the reduction of emissions, with over eighty billion yuan, or around 12 billion US dollars expected.

Xie Zhenhua, Vice-minister of National Dev't & reform Commission, said, "In the next five-year plan, we will speed up the readjustment of economic restructuring, and transformation of growth mode. It's an important strategic task for national economic and social development."