Aug 25, 2009 05:49 PM

China to Improve Renewable Energy Financing

By intern reporter Zhou Yan and staff reporter Chen Zhu

By intern reporter Zhou Yan and staff reporter Chen Zhu

(.com.cn) China's legislators have submitted a proposal to improve funding for renewable energy development as the world's second-largest energy user seeks to reduce dependence on fossil fuels.

A draft amendment to the Renewable Energy Law was passed to the Standing Committee of the National People's Congress on August 24, advocating the establishment of a fund jointly financed by central government fiscal revenue and surcharges on renewable energy consumption.

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