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SHANGHAI, Aug 30: China’s legislature passed a law calling for fiscal spending, tax breaks and other measures to promote sustainable economic growth via resource conservation and pollution control, official media said on Saturday.
The law, passed on Friday at the closing of the fourth session of the National People’s Congress standing committee, has been signed by President Hu Jintao and will come into effect on Jan 1, the Xinhua news agency said.
The law calls for closer monitoring of resource-intensive and heavily polluting industries, such as steelmaking, non-ferrous metal production, power generation, oil refining, Xinhua said.—Reuters
