The Ministry of Finance (MOF) has pledged full support to develop the country's fledging new energy and energy conservation sectors as the future economic growth engines.

The ministry will allocate sizable subsidies to scale up China's wind power industry, build solar power stations and encourage people to buy new fuel vehicles and other energy-efficient home appliances, as well as improve environment, Zhang Shaochun, vice-minister of finance, said yesterday at a meeting with provincial officials.

In addition, the MOF incentives will be used to phase out resources-consuming facilities, build more wastewater treatment facilities and promote clean production measures.