SOLAR ENERGY: Staff from the Huzhou Electric Power Authority, Zhejiang Province, check photovoltaic panels installed on the roof of a skyscraper, which generated electricity for commercial use on December 24, 2012 (XU YU)

Mining Regulation

China has made key progress in protecting mining resources in recent years.

Some 5.01 billion tons of petroleum reserves, 2.6 trillion cubic meters of natural gas and 279.8 billion tons of coal were discovered between 2008 and 2011 in a large-scale geological survey, said Xu Shaoshi, Minister of Land and Resources, on December 25, 2012.

According to Xu, the country has formed a geological exploration system that values both public and commercial interests and encourages investment from multiple sources.

Between 2008 and 2011, some 370.8 billion yuan ($59.47 billion) was spent on mining exploration, up 110 percent year on year. Among the total, central and local government funds took up only 15.3 percent, while the rest came from non-state investors, Xu said.

Meanwhile, a security deposit system to protect the environment in mining regions has been implemented in 30 provinces so far, Xu said.

Under the system, mine owners have to pay a security fee before they begin mining. The fee will be returned to the owners if they successfully restore natural environment damaged by mining activities.

Xu said that efforts have also been made to solve persistent environmental problems, clean up tailing mines and crack down on illegal mining.

Production Halt

On December 25, 2012, China's largest rare earth producer announced that it would continue to halt some of its production for a third straight month to stabilize tumbling prices.

The Inner Mongolia Baotou Steel Rare Earth (Group) Hi-tech Co. Ltd. will maintain its suspension of rare earth roasting and smelting operations, which began last October, for another month, the company said in a statement filed to the Shanghai Stock Exchange.

"The rare earth market recovered a bit in the past two months but did not improve fundamentally," the statement said.

The burst of a speculative bubble in China's rare earth industry and a slowing economy have led to a plunge in prices of 17 rare earth metals used in products ranging from smartphones to hybrid cars since last year.

Baotou Steel Rare Earth saw its third quarter net profits dive 89.6 percent year on year to 120 million yuan ($19.24 million) due to declines in prices and sales.

Green Meeting

The Fourth China International Forum of Ecological Competition kicked off in Beijing on December 20, 2012, demonstrating the latest achievements made in ecological conservation.

The annual event, which began in 2008, showed off an array of green projects and new technology and products for ecological protection.

At this year's forum, northeast China's Heilongjiang Province was granted the title of China's Most Ecologically Competitive Province, for its efforts in ecological conservation.

The China Green Carbon Foundation was set up at the forum, which aims to collect donations from the public to use in ecological conservation.