China to invest 2.37t yuan in energy-saving project

China plans to invest 2.37 trillion yuan (375.6 billion U.S. dollars) in major energy-saving projects during the 12th Five-Year Plan period (2011-2015), according to a document released by the State Council.

The projects are expected to save the country an equivalent of 300 million tonnes of coal during the five-year period, according to the document published Tuesday at the Chinese government website.

In a previously unveiled blueprint for energy-saving programs, Chinese authorities established a goal of cutting energy consumption per 10,000 yuan of GDP by 16 percent by 2015 compared with 2010, saving 670 million metric tonnes of coal equivalent.

To achieve the goals, the State Council has asked local authorities to strictly carry out the policies it detailed in the document, including optimizing industrial structures, restraining growth in energy-gobbling sectors and stepping up environmental assessments for new projects.

To ensure the implementation of the policies, the State Council said in the document that it will organize annual provincial-level evaluations and hold those who fail to meet the standards responsible.