China is set to kick off a large-scale land afforestation program, said Zhang Jianlong, director of State Forestry Administration. The plan strives to reach 23.04 percent of forest coverage by 2020 and 26 percent by 2035, reaching the world average by the middle of this century, Yicai.com reported.
Zhang said the administration will utilize 30 billion yuan (US$4.62 billion) in development-oriented policy loans and issue 10 billion yuan in green financial bonds to cultivate precious tree species, in order to build about 40.47 billion square meters of national reserve forests.
Meanwhile, the administration will also vigorously promote the construction of forest cities and forest parks. They aim to accomplish the afforestation of more than 404.69 billion square meters by the end of 2018.
Enterprises, individuals and social organizations are encouraged to invest in the afforestation project. Priorities will be given to support public and private partnership in land-greening projects.