Economy

Markets

Industries

Insights

Reports

Events

Energy: Nuclear and wind power to get subsidy

By Zhang Qi (China Daily)
Updated: 2008-11-26 10:41

A wind power plant in Inner Mongolia in this photo taken on September 30, 2008. The Chinese government will subsidize China's top nuclear and wind power providers with $11.76 million by the end of 2008. [China Daily]

The central government has decided to allocate 800 million yuan ($11.76 million) by the end of this year to subsidize China's top nuclear and wind power providers, China Radio International reported.

The improvement is part of the government's 100 billion yuan additional fiscal package, which should be spent by the end of this quarter, to prevent an excessive economic slowdown.

"The subsidy is mainly targeted at key technology for national nuclear power and wind turbine producers", said Huang Li, a deputy-director in energy saving at the National Energy Administration.

Huang expected the move could promote localization of the technology for nuclear and wind power generation.