China to allocate $57 billion to environment protection

BEIJING (Reuters) - China’s finance ministry will allocate a total of 407.3 billion yuan ($57.22 billion) to ecology and environment protection in 2020, up from 390.6 billion yuan last year, according to a statement on Friday.

From this total, 25 billion yuan will be allocated to air pollution prevention and control, 31.7 billion yuan to water and 4 billion yuan to soil protection.

China will also promote the official launch of the national green development fund, and step up efforts to establish trans-regional compensation mechanisms for ecological conservation in the Yangtze and Yellow river basins, the ministry said.

Reporting by Muyu Xu, Min Zhang and Tom Daly; Editing by Shri Navaratnam