China may go green with REITs

China's state planner is exploring adding new energy projects to its pilot scheme on real estate investment trusts for infrastructure projects.

The National Development & Reform Commission and National Energy Administration said in a joint statement that regulators will also support eligible new energy projects to earn certified emission reduction credits and to be included in the national carbon trading market.

Meanwhile, regulators will accelerate the construction of large wind power photovoltaic bases in desert areas and strive to reach 50 percent of the coverage of photovoltaics on the roofs of new buildings by 2025 for public institutions, the statement noted.

Regulators will also steadily support the companies with new energy projects to directly participate in the electricity market transactions with customers, adding that they will support such companies to sign long-term power purchase and sale agreements.

In addition, to ensure the safety of the industrial chain and prevent abnormal price fluctuations, regulators said they will pay attention to some badly-performed projects and will not allow them to develop blindly.

This came as the Ministry of Finance yesterday said it will buy more new energy vehicles for public use to promote the development of the sector.