In April 2012, The Ministry of Finance (MOF) and the Ministry of Housing and Urban-Rural Development (MOHURD) jointly released a document entitled, “Implementation of Opinions on Accelerating Promotion of Green Building Development,” which is the first time that the Chinese government has set green building goals. Their target is to have certified green building account for more than 30 percent of all new construction projects by 2020. In order to achieve that goal, the government is stepping up incentives for green buildings, improving industry standards and promoting technological improvements. In 2012, the subsidy for certified green buildings is 45 RMB per square meter for a 2-Star green building (under the China 3-Star certification system), and 80 RMB per square meter for a 3-Star green building.
In May 2012, MOHURD published the 12th Five-Year Plan on Building Energy Savings, which targets energy savings of 16 million tons of standard coal including 45 million tons from developing green buildings, 27 million tons from retrofitting existing buildings in Northern heating areas, 14 million tons from improving public building energy efficiency supervision systems, and 30 million tons in building-integrated photovoltaics.
Local governments have also published incentives and policies to promote green building and building energy savings. From Sep 2012, Shanghai started providing subsidies of 60 RMB per square meter for 2-Star certified green buildings and above, up to 6 million RMB ($944,286) for each construction project and 10 million RMB for each affordable housing project. In Xiamen and Fuzhou, the provincial government’s investments in affordable housing projects will fully implement green building standards starting from 2014.