Chinese Government Drafts Plan to Develop Carbon Capture Industry

China is drafting a development plan for the carbon capture, utilization and storage industry as the country takes steps to cut emissions, Minister of Science and Technology Wan Gang said.

The government plans to double its spending on projects capturing and storing carbon in the five years ending 2015 to 400 million yuan from the preceding five-year period, Wan told a conference in Beijing today.

The spending may attract 2.3 billion yuan of investments in the industry during that period, compared with the 1 billion yuan invested between 2006 and 2010, according to Wan.

Alstom SA, the third-largest maker of power equipment, and China Datang Corp. agreed to develop two trial projects to capture carbon dioxide from power plants and store it in China’s two biggest oilfields, the Levallois-Perret, France-based equipment company said yesterday.

China is willing to share its experience and expertise on carbon capture and storage with other developing nations, Wan said.

To contact the reporter on this story: Chua Baizhen in Beijing at

To contact the editor responsible for this story: Ryan Woo at

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.