On the right track
China's investment in environmental protection totalled US $9.6 billion in 1998, in the process exceeding one per cent of its GNP for the first time in the nation's history.
Xie Zhenhua, administrator of the State Bureau of Environmental Protection said that China invested around US $2.93 billion in pollution control and around US $6.72 billion in urban environmental infrastructure development. These funds are primarily used for controlling urban air pollution and contamination of lakes and rivers.
During the 8th five-year plan period, China's investment in environmental protection touched nearly US $4.8 billion, 0.8 per cent of its GNP. Chinese banks and financial institutions have listed major industrial pollution control projects as priority loan targets, he added.
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