Business News

Aug 28
China Invests In Green By Jodi LaMarco

China has pledged to spend seven billion yuan ($925 million) on improving the country's energy efficiency.

Head of the National Development and Reform Commission, Ma Kai, said, "We are facing a very vital situation to cut energy use."

Beijing aims to produce 50 million energy-efficient light bulbs by year's end, improve methods of power production, and develop oil substitutes. An additional 2 billion yuan ($330.4 million) will go toward biogas units located in the countryside.

REUTERS

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