China will step up efforts to upgrade energy consumption structure and reduce steel's overcapacity, according to the National Development and Reform Commission today.
The country plans to further enhance energy consumption structure, and the country's top economic planner disclosed a proposal to share a batch of clean-tech facilities and solar energy systems with Burma. China is also preparing for a training program to deal with climate change which will be provided to developing countries this year, said Zhao Chenxin, spokesman of the commission said in a news conference.
By the year 2020 emissions of carbon dioxide per unit of GDP are required to drop 40-45 percent compared with 2005, and the use of non-fossil fuels should account for 15 percent of primary energy sources, Zhao pledged.
In April, the commission invested 6.7 billion yuan ($1 billion) to fund two energy projects for energy consumption optimization and air pollution treatment. An electric power transmission project was approved last month to pump 1.2 million kilowatt wind-generated electricity into northern China.
In the past few months the market has seen steel price rises, but speculation and improved sentiment boosted by policy stimulus were the main reason, Zhao said.
"Overcapacity of steel industry hasn't been corrected fundamentally," Zhao said. New measures can be expected in the following months.
