Energy

China offers rewards to energy efficient companies

(Xinhua)
Updated: 2011-06-24 17:29

BEIJING -- China will continue to allocate funds to offer rewards for enterprises that refit their production techniques and facilities with energy-efficient technologies, the Ministry of Finance said on Friday.

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The move aims to promote green technologies and increase energy efficiency in the world's second largest economy, which has vowed to reduce the amount of carbon dioxide produced per unit of gross domestic product by 40 to 45 percent by the end of 2020, the ministry said in a statement on its website.

The prerequisite for getting the rewards is that companies must have consumed more than 20,000 tonnes of coal equivalent (TCE) per year before adopting energy-efficient technologies, and save 5,000 tonnes of coal equivalent (TCE) after their tech-transformation.

Companies in eastern regions will be rewarded with 240 yuan ($36.92) per TCE saved while those in central and western regions will be given 300 yuan per TCE saved, the statement said.