China has unveiled a 736 billion dollar plan that will make cleaner fuels competitive with cheap and co2 intensive coal. This will be done without any negative impact on the industrial growth and development. The second largest economy will face a large challenge to make this plan work in a true sense. To make the dream come true, Beijing will increase tariffs in order to make energy sources at par with coal fired power.

Wang hi, deputy chief of the institute of policy and management said the parallel policies are necessary for implementation in order to achieve the goal.

He further said –

The government must gradually lift fossil fuel prices while granting incentives to non-fossil fuels to establish a long-term price signal.”
Lin Boqiang, an economist at Xiamen University said –

“Power price is the key of the keys. (Without a reform) only state firms want to build green facilities as they are the ones who can afford to lose money.