China's first lake basin eco-economic zone welcomes global investment

21:59, February 16, 2011      

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About 700 projects with a planned investment of 814 billion yuan (123.5 billion U.S. dollars) have been unveiled to attract global investment at Poyang Lake eco-economic zone in east China's Jiangxi Province.

The 699 projects were unveiled Tuesday along with the establishment of the development coordination office of Poyang Lake. The projects cover 16 industries including infrastructure, optoelectronics, new energy and aviation, said Yao Mugen, head of the office.

The eco-economic zone was designated by the State Council as China's pilot project in developing lake basins in Dec. 2009.

The Jiangxi provincial government will introduce eco-compensation, the replacement of pollution discharge fees with an environmental tax, and carbon trade polices in the zone during the 12th Five Year plan period from 2011 to 2015, said Wu Xinxiong, the governor.

Favorable tax polices, such as land use tax and real estate tax, will also be available to environment-friendly companies, said Wu.

The water volume that Poyang Lake discharges into the Yangtze River each year accounts for 15.6 percent of the river runoff. Therefore, the water volume and quality of the lake have a direct impact on the water security of the millions to whom the Yangtze River is their major water source.

The zone, covering 51,200 square kilometers, includes three cities of Nanchang, Jingdezhen and Yingtan.

Poyang Lake, the largest fresh water lake in China, is home to over 100 types of fish and 300 varieties of migrant birds, including white crane.

Source: Xinhua
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