China will spend more than 15% ($88 billion) of the country's 4-trillion-yuan ($586 billion) stimulus package on cutting carbon emissions by the end of 2010, China's chief climate change negotiator said on Wednesday.
This is the first time the government has announced using funds for green initiatives from the stimulus package, which was unveiled last year.
Another 370 billion yuan ($54 billion) will be channeled into technological upgrades and industrial restructuring in the country's energy-intensive factories.
The share of stimulus investment going into fighting climate change is quite impressive, even compared with developed countries, ChinaDaily said, citing Dennis Pamlin, the World Wildlife Fund's (WWF) global policy adviser.
China is trying to tackle global warming both ambitiously and seriously, said Ambassador Yu Qingtai, the country's special representative for climate change negotiations.
China is committed and is serious about getting promises delivered and we also urgently hope the developed countries can act now and focus on concrete actions, instead of talking, Yu said before heading on Friday to Bonn, Germany, to attend another round of climate change talks prior to the Copenhagen summit.
Yu said some developed countries just give lip service but no concrete actions toward solving global warming; he urged those countries (without giving specific names) to reduce at least 40% of their carbon emissions by 2020 from the 1990s base.
Yu also expressed his hope that the upcoming climate negotiations will produce a new treaty to fight global warming, but developed countries have slowed the process by not setting an emission-reduction target.
Participants at a UN conference in Copenhagen in December will try to reach an agreement on a treaty to replace the 1997 Kyoto Protocol for limiting greenhouse gases. The protocol expires in 2012.
The Associated Press reported that China and other developing countries want developed countries to reduce their emissions by 40% below 1990 levels, but the US has said that is not feasible.
Pamlin, of the WWF, told China Daily that China has been moving in the right direction to approach the global warming challenge in a way that could turn it into an opportunity.
All the efforts China has made show that China is not following in the unsustainable footsteps of the West when it economically took off, said Pamlin.