1st LD: China to set up Green Development Fund

China will establish the Green Development Fund to promote clean production and sustainable growth, according to a document issued by the Communist Party of China (CPC) on Tuesday.

China will steer traditional manufacturing toward an environmentally friendly path, establish a low-carbon circular production system and encourage businesses to upgrade technology, according to proposals released by the CPC Central Committee on formulating the 13th five-year plan (2016-2020) for national economic and social development.

The document was adopted at the Fifth Session of the 18th CPC Central Committee, which ended Oct. 29.

China will encourage low-carbon development by promoting clean energy, green transport, controlling carbon emissions in major industries and boosting the circular economy, the document said. Endi