Special funds to optimize industry

(chinadaily.com.cn)

Updated: 2014-11-05

The financial department of the Inner Mongolia autonomous region announced on Oct 29 that it had planned a special fund to restructure its economy.

This year, the autonomous region's government raised a fund of 86.85 million yuan ($14.2 million) to develop the recyclable economy. It gave subsidies to the seven projects conducted by the recyclable economy pilot organizations and the two recyclable economy demonstration industrial parks.

At the same time, the government also had a fund of 50 million yuan for renewable energy. It has offered subsidies to the new-energy sector, including wind, solar power and bio-energy.

Edited by Liu Yufen and?Michael Thai