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China to Support Energy-efficient Development
China has reached a consensus with the World Bank to improve the most populous country's efficiency of energy consumption, according to sources with the State Economic and Trade Commission.
The consensus includes an energy-saving and clean energy production program, funded by the World Bank and technically supported by the Global Environment Fund, aiming to introduce and popularize the world's latest energy-saving concepts in China, Chinadaily reported Saturday.
Under the program, a variety of energy management companies using expenses saved from energy-efficient projects are expected to boom.
The companies will feature contracted management and serve enterprises by providing energy-saving technologies and relating management services.
As China is fostering a market economy system, the previous energy-saving norm operating under the planned economy has failed to meet the nation's needs.
Since 1996, China has set up three joint-stock companies adopting contracted management for energy-saving projects in Beijing, Liaoning and Shandong provinces respectively.
Up to date, these trial companies have brought 107 energy-saving projects into effects with some 160 million yuan (19.3 million U.S. dollars) of investment.
These profit-making professional businesses have further develop themselves by sharing the profits gained from the projects they have sponsored and attracted more investors to participate in such projects.
The commission will aid the establishment of more similar companies by providing management training and loans from commercial banks.
To ensure the smooth development of the energy-saving industry, the State Economic and Trade Commission will set up a special agency to administrate energy-saving projects operating under the new model and a credit pooling to support energy management companies.
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