8 September 2006

Pollution costs China 511.8 billion yuan in 2004

Pollution costs China 511.8 billion yuan in 2004: "BEIJING -- Environmental pollution caused China to suffer 511.8 billion yuan (about US$64 billion) in economic losses in 2004, which amounted to 3.05 percent of GDP that year, according to a government research report released on Thursday.
It is China's first research report on China's 'green national economy', also called 'green GDP', which is calculated by subtracting the cost of natural resources used and the cost of environmental degradation from the GDP.
'This marks only the beginning of our efforts in Green GDP calculation. Our formula is still not complete and we have to keep working hard to improve it,' said Pan Yue, deputy director of the State Environmental Protection Administration (SEPA), at a press conference in Beijing.
The report was jointly released by the SEPA and the National Bureau of Statistics.
The 'Green GDP' calculation system is based on the cost of using five kinds of natural resources - land, minerals, forest, water and fisheries - and the cost of two kinds of environmental degradation - environmental pollution and ecological damage. "

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