China to Meet Year-End Goal of Cutting Energy Intensity by 20%, NDRC Says

China, the world’s fastest-growing major economy, will meet its year-end energy conservation targets, said Zhao Jiarong, a deputy secretary general at the National Development and Reform Commission.

The country will meet its goal of cutting energy consumption per unit of gross domestic product between 2006 and 2010 “on time,” Zhao said at a forum in Beijing on Dec 3.

China aims to reduce energy intensity by 20 percent in the five years ending this month. Energy use per unit of GDP fell about 3 percent in the first nine months after the government took steps to curb consumption, including shutting factories, Zhao said.

The nation will “fully reform” its resources tax during the five years from 2011, and will set up a trading system for energy conservation, according to the transcript of Zhao’s speech posted on the NDRC’s website today. She didn’t give more details.

To contact the reporter on this story: Baizhen Chua in Beijing at bchua14@bloomberg.net

To contact the editor responsible for this story: Clyde Russell at crussell7@bloomberg.net.

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