Preliminary estimates show China may have outperformed its annual goal to cut carbon intensity by 3.5 percent in 2012, officials said.

With that target, the country aims to cut its carbon emissions per unit of gross domestic product by 17 percent between 2011 and 2015.

The government is preparing a national plan on climate change through 2020, said Su Wei, director general of the climate change department at the National Development and Reform Commission. China aims to cut intensity by 40 to 45 percent versus 2005 levels by 2020.

The country's efforts to control emissions have stimulated the demand for energy efficiency and renewable energy investments and begun to set the foundations for a future carbon market.

According to a report by Tsinghua University, China's energy conservation investments will have to increase by 50 percent compared to 2006-2010 levels -- about 1.24 trillion yuan ($199.2 billion) -- in 2011-2015 to satisfy the increase in demand.

Moreover, renewable energy investments are expected to rise 37.5 percent by 2015, the report said (Xu/Stanway, Reuters, Jan. 10). -- IP