China to spend $175 billion on the environment

China plans to spend about $175 billion protecting its environment over the next five years according to a report from BBC News. The money will be used to reduce pollution, improve water quality, and cut soil erosion.

China has some of the world's most polluted cities and waterways. A December 2005 report from the Chinese government said some 300 million Chinese drink unsafe water tainted by chemicals and other contaminants, while a nationwide survey found that about 90% of China's cities have polluted ground water. Meanwhile, a 2005 study by the World Health Organization (WHO), reported that seven of the world's ten most polluted cities are in China and almost two thirds of the country's largest cities fail to meet the organization's air quality standards. The World Bank estimates that pollution is costing the country 8-12% of its $1.4 trillion GDP in direct losses.

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