China to invest RMB17 trln in environmental protection in 2016-2020 中国将在13五期间投入17万亿元用于环境保护

China to invest RMB17 trln in environmental protection in 2016-2020

Stockholm, June 10 (Greenpost) – China is estimated to invest over 17 trillion yuan in environmental protection in 2016-2020, according to Chinese Academy for Environmental Planning.

China’s Ministry of Environmental Protection (MEP) would focus on improving environmental quality in compiling national environmental protection plan for 2016-2020, which is expected to be submitted to the State Council for approval in March 2016.

The new five-year plan would add targets on improvement of environmental quality beside existing targets on cut or control of overall emissions, said a report by Economic Information Daily on Wednesday.

The environmental protection plan would involve green economy, nuclear safety, soil protection, biological protection as well as prevention and treatment of water pollution.

China would introduce amount control mechanisms over newly-added industrial smoke and dusts, volatile organic compounds (VOCs), total nitrogen and total phosphorus in 2016-2020. (Edited by Liu Yanan, liuyn@xinhua.org)

Source  Xinhua

Editor  Xuefei Chen Axelsson

China’s top coal firms dismiss merger rumors

China’s top coal firms dismiss merger rumors

Stockholm, June 9 (Greenpost) — China Shenhua Energy Co., Ltd. and China Coal Energy Co., Ltd., the nation’s leading coal producers, on Tuesday dismissed reports of a merger.

The two companies said neither they nor their parent companies have been informed on the matter of merger from government departments; meanwhile, neither company has talked with other companies or departments about any merger, according to separate statements by the two companies filed to the Shanghai Stock Exchange.

In the mainland stock market on Tuesday, shares of both companies surged by the daily limit of 10 percent. In Hong Kong, China Shenhua rose more than 3.6 percent; China Coal Energy gained nearly 7.5 percent.

There were rumors last month that China was considering massive mergers and acquisitions of its biggest state-owned enterprises (SOEs) to prevent in-fighting and build industrial giants able to face global competitors. A total of 112 centrally-administered SOEs were said to likely be cut by more than half to 40.

However, the State-owned Assets Supervision and Administration Commission later said reports about such massive M&As were “unverified.” Enditem

Source  Xinhua

Editor  Xuefei Chen Axelsson