May 23, 2012
In a recent announcement issued by the Ministry of Finance and the Ministry of Housing and Urban-Rural Development, the Chinese government has established a goal of having green buildings account for 30% of new construction projects by 2020. This is the first time for China to set a goal for the development of green buildings.
The government will speed up the sector's development by increasing policy incentives and improving industry standards as well as promoting technological progress and the development of related industries. First-tier buildings will make their builders eligible a subsidy of RMB80 per sq m, while second-tier buildings will qualify for RMB45 per square meters.
The government aims to apply green construction standards to all government-funded public welfare projects and low-income housing projects by 2014. More of these projects will be energy-efficient, with the goal of building more than 1 billion square meters of energy-efficient floor space by 2015.
