Plumbing. Heating. Conditioning. Energy Efficiency.

China is for energy efficiency

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26 July 2012

China's cabinet approved a blueprint to promote seven strategic industries by 2015 as part of efforts to reform the economy and underpin long-term growth.

"As the economy faces increasing downward pressure, it has great significance in maintaining long-term steady and relatively fast growth," the state council, or cabinet, said on its website, www.gov.cn, after a meeting chaired by Premier Wen Jiabao.

The strategic industries cover energy-saving and environmental protection efforts, next generation information technology developments, biotech, industrial materials, advanced equipment manufacturing and new energy sources, including for the auto sector.

China's economy is on course this year to grow 8.2 percent, its slowest pace since 1999, according to the consensus forecast of investment bank economists in the latest Reuters poll.

Beijing has unveiled several measures to boost domestic consumption and private investment as the economy faces the headwinds of a slowdown in export demand growth.

Such moves include fast-tracking approval of infrastructure investment, offering subsidies for buying energy-saving home appliances, encouraging more private capital to enter a handful of sectors, which are dominated by state firms.

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