On Monday, the National Development and Reform Commission, China’s top economic planner, announced a new program offering funding of up to 100 million yuan ($13.8 million) to support projects focused on emerging emissions reduction technologies. The aim of the program is to accelerate progress in industries such as steel, data centers, and more.
Eligible projects will include those working on large-scale carbon capture, improving energy efficiency, and reducing carbon intensity in industries like petrochemicals, steel, data centers, and construction. The criteria also include advancements in biomass and geothermal power. Additionally, funds will be available for initiatives related to the production of degradable plastics and using bamboo in packaging.
The National Development and Reform Commission stated that the funding will be available for projects that have leading technological levels and outstanding emission reduction effects. Projects focused on recycling and reusing products such as industrial waste, steel scrap, and expired renewable energy equipment like solar panels or wind turbines will also be covered by the program.
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