The Chinese Ministry of Finance will award energy-saving projects able to save 10,000 tons of standard coal annually after technical renovation.

     Zeng Xiao'an, deputy director of the economic development department of the Ministry of Finance, said that such projects concerning boilers updating, utilization of industrial waste heat and pressure, oil substitution and conservation, will be awarded with 200 or 250 yuan for saving one ton of standard coal.

     Some local government has launched the award even though a project saves less than 10,000 tons/year, according to Zeng.

     Statistics show that the central government in 2007 invested 2.8 billion yuan in bolstering 546 energy-saving projects that are expected to save 20.31 million tons of standard coal.