China is to invest 2 trillion yuan (over $300 billion) over the next five years to encourage a low-carbon economy, according to Reuters reports.

The news agency quotes Xie Zhenhua, vice minister of theNational Development and Reform Commission, as saying that low-carbon development will be promoted in the country’s current five-year plan, which began this year.

The plan includes creating low-carbon programmes in five provinces and eight cities, as well as 100 centres focusing on use of resources.

The country is also taking steps to tighten air quality standards for thermal power plans and develop a carbon capture and storage (CCS) industry.

According to media reports, China plans to double spending on CCS over the next five years to 400 million yuan (over $60 million).