The new group expects to begin building its plant in December in Fangchenggang, a major port in Guangxi.

Circular Economy Protected

China's top legislature passed a law to promote a recycling economy on August 29 at the closing of the fourth session of the Standing Committee of the 11th National People's Congress.

The law, which is aimed at boosting sustainable development through energy conservation and the reduction of pollutant discharges, will come into force on January 1, 2009. Under the law, the government will closely monitor high-consumption and high-emission industries and work out a system for recycling and improving energy-saving and waste-reutilization standards.

According to the law, the Central Government will allocate funds and capital to encourage enterprises to create new recycling technologies. Enterprises will get tax breaks for adopting energy-efficient technologies and equipment.

Boosting Soybean Output

The National Development and Reform Commission said in a report issued on September 3 that the government would encourage farmers to boost soybean production and help soybean-processing companies reduce their reliance on imports.

Since last year, about 1.06 million hectares have been turned into new soybean planting areas. The total area of soybean-growing land will reach 9.65 million hectares by the end of the year. The output is expected to rise to 17.5 million metric tons, up 36.7 percent from 2007, according to the most recent forecast of the China National Grain and Oil Information Center.