$1.37 trillion to fight water, air pollution in China
According to the Action Plan for Preventing and Controlling Water Pollution published in April this year, China's Ministry of Environmental Protection is focusing on combating water pollution.
An estimated 2 trillion yuan will go into enhanced monitoring of drinking water sources and the control of poisonous contaminants as suggested by a water pollution prevention and control action plan which is being formulated, according to Wang Tao, an official with the pollution prevention department under the Ministry of Environmental Protection.
A total of 26.45 billion yuan ($41 billion) will be invested in water pollution treatment in China's 18 provinces, Securities Daily reported.
The wastewater treatment sector rallied strongly on Chinese A-shares due to positive expectations. On Tuesday, Lvcheng Water and Jiangnan Water stocks reached the daily limits while the stocks of South Huiton, Chongqing Water, and Hanzhou Iron & Steel surged by 6%. ■