Fund launched to protect "China's water tower"
Updated: 2012-10-22 17:30
XINING -- China launched a fund on Monday to protect its far-western Sanjiangyuan nature reserve, the source of the country's major rivers.
Ma Fuhai, director general of the environmental protection fund, said it will aim to take full advantage of market resources to raise money through various channels.
The fund will seek to set up a long-term mechanism to push for more progress in environmental protection at the source of the Yangtze, Yellow and Lancang rivers in Qinghai province, according to Ma.
The China Construction Bank donated 3 million yuan ($480,000) to the pot at the launch ceremony.
Zhang Shoucheng, director of the Qinghai provincial development and reform commission, said the initiative has two advisory committees, the first formed of six former senior central and local governments officials, and another formed of 124 experts.
The Sanjiangyuan reserve, located on the Qinghai-Tibet Plateau and described as "China's water tower," provides the lower reaches of the Yangtze, Yellow and Lancang rivers with 60 billion cubic meters of water annually.
However, the reserve has become ecologically vulnerable due to global warming and human activity.