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average. In November 2010, the Paris based International Energy Agency said
China has surpassed the US to become the worlds biggest overall energy
consumer. Today it is the fastest growing consumer of oil in the world, ahead of
energy-efficient Japan and second only to the US in terms of total consumption
and imports. The average annual growth in energy needs in 3.2%. While the
consumption of energy is not in itself a curse, it harms the environment.
Meanwhile, maintenance of socio-political stability, an important factor to
achieve sustained high economic growth could also be an impetus to generate
and enforce environmental policies. China has set up a system for monitoring the
discharge of pollutants but it is far from perfect because it relies on local
government officials to implement the system. To reduce the amount of sulfur
dioxide emitted from the burning of coal in the factories, the Chinese
government has imposed heavy penalties to such emissions and encouraged the
building of equipment to capture sulfur dioxide. China is also using economic
incentives to solve the problem to externalities resulting from the use of energy.
To reduce the use of coal and encourage a switch to cleaner burning fuels, the
government has introduced a tax on high-sulfur coals. The Chinese government
will advance reforms in the pricing of natural gas water and other resources,
raise the tax levied on pollutant discharge, establish a polluter pays system
severely punish those who violate the environmental protection laws.
In addition, China has invested heavily in innovative green strategies that could
be both beneficial for the environment opportunities to attain sustained
economic growth. Bold initiatives are made by the government and public
businesses to harness wind and solar power for industrial and home usage. Pacts
signed with countries like Singapore to build eco-cities and ecologically-friendly
industrial parks. China is the worlds largest investor on the search and utilization
of renewable energy. Construction of the Three Gorges Dam, along with several
other smaller dams, attests to governments determination to resort to
hydroelectricity to satisfy mounting energy demands. The government also plans
to build nuclear plants to supply power to the cities of Southern China. Under
governmental encouragement, wind and solar power generators are becoming
popular even in private households, especially for those in the countryside and
interior China, putting forth the possibility that the countrys rapid economic
growth can be sustained without jeopardizing the economy.
In fact, the government has realized that having strong green industry could
carve for China a niche in the global economy that would in turn generate vast
possibilities for continued economic growth. China is the worlds largest
generator of hydropower from giant dams that trapped water from running
rivers. From 2011, China will build a multimillion dollar undersea research base
on its east coast as it steps up its efforts to search for energy sources and rare
earth on the ocean floor. In 2011, China said it had become one of only handful
of countries to successfully reprocess fuel, thanks to the work of China National
Nuclear Corporation (CNNC) engineers. This could allow the Chinese to reuse its
uranium deposits for another 3000years. The government has given R&D
subsidies totaling 4billion yuan for the development and industrialization of core
renewable energy equipment including key components for wind turbines and
advanced silicon technologies for solar PV, with another 2billion yuan allocated
for R&D in biofuels.
In conclusion, limited progress has been made with drastic and innovative
measures undertaken as the Chinese government realized the relevance of