Posts tagged ‘The State Council’

20/09/2014

China approves plan to combat climate change – China – Chinadaily.com.cn

The Chinese central government on Friday approved a plan that maps out major climate change goals to be met by 2020.

The State Council, China’s cabinet, gave a green light to the plan, which was proposed by the National Development and Reform Commission (NDRC), the country’s economic planner. A statement released on the State Council’s website urged the NDRC to carry out the plan.

China has pledged to reduce its carbon emission intensity, namely emissions per unit of GDP, by 40 percent to 45 percent by 2020 from the 2005 level. It will also aim to bring the proportion of non-fossil fuels to about 15 percent of its total primary energy consumption.

Other targets include increasing forest coverage by 40 million hectares within the next five years.

The government will speed up efforts to establish a carbon emission permit market, under the plan, which also calls for deepened international cooperation under the principles of “common but differentiated responsibilities,” equity and respective capability.

The State Council said local governments and departments at all levels should recognize the significance and urgency in dealing with climate change and give higher priority to action on this issue.

China’s release of the action plan came just before a climate summit to be held at UN Headquarters in New York on Tuesday. Chinese Vice Premier Zhang Gaoli will attend.

Xie Zhenhua, deputy chief of the NDRC and the country’s top official on climate change, told a press conference that the plan was concrete action by China to participate in the global process to tackle climate change.

By the end of last year, China had reduced carbon dioxide emissions per unit of GDP by 28.56 percent from 2005, which was equivalent to saving the world 2.5 billion tonnes of carbon dioxide emissions, Xie said.

At the end of 2013, China’s consumption ratio of non-fossil energy to primary energy stood at 9.8 percent. Forest growing stock had increased by 1.3 trillion cubic meters from 2005 to two trillion cubic meters, seven years ahead of schedule, according to the official.

In the first nine months of 2014, China’s energy consumption per unit of GDP dropped by 4.2 percent year on year and carbon intensity was cut by about 5 percent, both representing the largest drops in years, he said.

As a developing country, China is the world’s largest greenhouse gas emitter. With the plan, the country has showed its confidence in achieving its green goals.

via China approves plan to combat climate change – China – Chinadaily.com.cn.

07/04/2014

Why China Needs Such Rapid GDP Growth: More Jobs – Businessweek

As China frets about meeting its target of about 7.5 percent growth in 2014, it’s time for more stimulus. The State Council, China’s cabinet, announced plans this week to further expand railways across the country, renovate dilapidated urban housing, and provide new tax breaks for small businesses. Many analysts are expecting a return to looser credit policies this year as well.

But what China considers unacceptable levels of gross domestic product growth would be the envy of most other countries. So why do China’s leaders demand such rapid rates of economic expansion?

A clue to that is found in Premier Li Keqiang’s recent work report, China’s version of a state of the union speech. Creating enough jobs—mentioned 11 times in the document released on March 5—is what drives Chinese officials’ obsession with fast-rising GDP.

China needs high levels of growth—at least 7 percent, says Li—to ensure enough jobs for 7.2 million college grads and 10 million people flooding cities from the countryside every year. China’s leaders have set a target of producing at least 10 million jobs this year, and a record-high 13.1 million urban jobs were added last year. “Employment is the basis of people’s well-being,” Li said in the work report. “We will steadfastly implement the strategy of giving top priority to employment.”

The trouble is, new stimulus mainly means more investment-driven expansion, which already accounts for about half of the economy. That’s problematic given industrial overcapacity and soaring debt levels held by local governments and companies. And while it indeed boosts the headline GDP number, it doesn’t always create lots of jobs. Heavy industries such as steel, aluminum, and real estate construction, which have rapidly expanded particularly in the years following China’s 2009 stimulus, tend to be capital-intensive rather than labor-intensive.

The country has struggled in recent years to substantially boost the portion of its economy driven by consumption and the job-creating service sector. The plan to cut taxes may provide some support toward that goal. Unfortunately, more train tracks and urban housing may instead set China back.

via Why China Needs Such Rapid GDP Growth: More Jobs – Businessweek.

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