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Chongqing to Build Low Carbon Park

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China's southwestern municipality of Chongqing plans to build the world's first low carbon industrial park with a prepared investment of 1 billion British pounds.

Construction will start in January 2010. The process will take five years. The investment comes from the British government, UK fund management firms, and Arabic countries. The park will focus on the global carbon market. Its aim is to bolster new technologies in solar, natural heat, new materials, and energy saving and emission reduction products.

So far, 12 international green technology firms have agreed to move in. A total 100 companies will be introduced to the park. This should create a combined annual output of 25 billion yuan.

(CCTV November 23, 2009)