China to push pricing reform of major energy products: vice premier

China will accelerate pricing reform of major energy products such as coal, electricity and oil,giving the market a greater role in setting prices, said Vice Premier Zeng Peiyan during a recent meeting on energy conservation.

While improving the taxation system, the government will also step up study on launching the fuel tax and raising the rate of taxes on energy resources, Zeng told the meeting held earlier this week to mark China's Energy-saving Week, which starts on Sunday.

Energy conservation is significant for the achievement of the goal to "quadruple China's gross domestic product (GDP) while only doubling energy consumption by 2020," said Zeng.

To save energy, the state will first support the development of the low-energy consuming tertiary sector and high-tech industry, and encourage the upgrading of the traditional industries with advanced technologies, he said.

The government will ask heavy energy-consuming sectors and enterprises to draw out and implement energy-saving plans, he said,adding that more strict and compulsory standards on energy consumption of products.

The vice premier stressed the urgency to develop a recycling economy, which the recycling of resources should not only be promoted in companies and industrial zones, but also in residential quarters.

Zeng also called for more publicity of the importance of energy-saving to enhance the people's resources-saving awareness.

Source: Xinhua