BEIJING, Aug 27: China will this year launch a fund with 7 billion yuan ($925 million) to spend on energy-saving projects such as efficient lightbulbs as it seeks to curb soaring demand for power, Chinese media reported.

The cash is part of a scheme unveiled by the country's top economic planner to tackle pollution and energy problems, which Beijing fears may fuel domestic unrest or international tension.

“We are facing a very vital situation to cut energy use,” the China Daily quoted Ma Kai, head of the energy policy setting National Development and Reform Commission, as saying on Sunday.

If the country did not speed up efforts, it would miss ambitious targets for reducing energy intensity -- the amount of energy used to earn each dollar of national income -- Ma said when he unveiled 10 measures to save energy and cut pollution.

Beijing hopes to roll out 50 million efficient lightbulbs this year under the scheme, which will also pay for alterations to boilers, power generation with excess heat and development of oil substitutes, the China Daily reported.—Reuters