Shanghai Earmarks 440 Billion Yuan to Tackle Pollution

(Shanghai) — The Shanghai government has earmarked 440 billion yuan ($65.1 billion) to tackle pollution from 2016 to 2020 with tax breaks and subsidies for businesses that adopt environmentally friendly technology and meet higher industry standards.

City authorities have not yet offered a detailed breakdown of the proposed expenditure, which represents an increase of more than a third from the previous five-year period. But funds will also be used to tackle water and air pollution, according to a city government blueprint released over the weekend.