China will invest 2 trillion yuan ($313 billion) to promote the low-carbon economy over the next five years, according to Xie Zhenhua, Vice Chairman of the National Development and Reform Commission (NDRC).

The investment will help reduce energy consumption per unit of GDP in China by 16 percent by the end of 2015 compared with the 2010 levels.

Xie said China will develop circular economy projects, establish 100 demonstration bases for resource comprehensive utilization and launch low-carbon pilot programs in five provinces and eight cities during the next five years.