MOF to support energy-saving, pollution reducing

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Will the financial crisis hold back China's efforts in energy saving and reducing pollution? The answer is no. The country sees slump as an opportunity to change the old economic growth pattern which relies heavily on energy consuming.

The Ministry of Finance held a conference on Thursday vowing to take proactive measures to save energy and curb pollution, as well as bolster new energy industries.

Although the financial crisis has challenged China's economic growth, the country's determination to save energy and ease pollution will not be affected. The Ministry of Finance says these tasks are crucial for China's economic development at the current stage.

Zhang Shaochun, Vice Minister of Finance said "China will continue to push energy saving, reduce pollution, and stick to a sustainable development path. It will help to alleviate the strains that a misuse of the environment and resources has on China's economic growth. We will strive for a just economic structure, and push for the construction of an environmentally-friendly, and resource-saving society."

The vice finance minister says industries that help advance these ideals will be high on the agenda. In one of its efforts that will have a direct impact on ordinary Chinese, the finance ministry plans to launch a program that subsidizes the purchase of energy-saving home appliances.

Zhang Shaochun said "China's home appliances are entering a new round of upgrading. Promoting energy-saving products is urgent, and has great potential. It will also be an effective measure to boost consumption."

Other fiscal policies are also ready to be put into action. The Ministry will give subsidiaries to new energy industries including wind power, solar power and new energy cars. It will also offer financial rewards for the elimination of outdated energy consuming industries while supporting energy-saving achievements.