Metals News
China to Set Target for Resource Use, Shanghai Securities Says
data analysis
01:33PM
Feb 1,2010
Source:SMM

BEIJING, Feb. 1 -- China will set a consumption target for natural resources, including oil and nonferrous metals, to increase the efficiency of their use, Shanghai Securities News reported, citing an official at the top economic planner.

Natural resources will be measured against every unit of economic output, the newspaper said today, citing He Bingguang, head of the resource conservation and environmental protection bureau at the National Development and Reform Commission.

China, already the world's second-biggest energy user, is set to overtake Japan this year to be the second-largest economy. Gross domestic product reached 33.5 trillion yuan last year, the government in Beijing said on Jan. 21, almost matching the World Bank's 2008 estimate for Japan. The resource use target will be an important goal in China's five-year economic plan through 2015, the newspaper quoted He as saying.

The country previously set a target of cutting energy use for each unit of GDP by one-fifth in the five years ending 2010.

 

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