Aerial photo taken on May 24, 2019 shows farmland in Xinzhuang Town of Feixian County in Linyi City, east China's Shandong Province. Shandong has implemented the new mentality of green development to push sustainable developmentin recent years.
BEIJING, Jan. 7 (Xinhua) – Shandong, a coastal province in east China, has innovated the integrated way of financial and fiscal supports for green development in recent years by coordinating the use of international and domestic resources, Dazhong Daily reported Wednesday.
Shandong has introduced a total of about 400 million U.S. dollars of foreign investment to set up a green development fund to invest in energy conservation and emission reduction, environmental protection and governance, clean energy, circular economy, green manufacturing and other fields. At present, the first investment project of the green development fund has been launched.
Focusing on carbon neutrality and emission peak, Shandong has given full play to the leading and leveraging role of government-guided funds to attract social capital to support new materials, new energy and other key areas. Up to now, 151 projects have been invested with 16.3 billion yuan from the fund, driving social capital investment of 81.7 billion yuan.
In addition, the province also actively use the Public-Private Partnership (PPP) mode to promote the quality and efficiency of green industries, and actively seek support from the China Clean Development Mechanism Fund. Now, the province operates 20 projects of the fund with a total investment of 5.2 billion yuan, aiming to promote the green and low-carbon development in Shandong.
(Edited by Gao Jingyan with Xinhua Silk Road, gaojingyan@xinhua.org)
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