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China to allocate $57 bln to environment protection

BEIJING, May 22 (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. ($1 = 7.1182 Chinese yuan renminbi) (Reporting by Muyu Xu, Min Zhang and Tom Daly Editing by Shri Navaratnam)

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