The government of the People's Republic of China now plans to spend $156.6 billion on new environmental protections over the next four years, according to Xie Zhenhua, the PRC's top environmental official. The money will pay for, among other things, improvements in "urban sewage treatment, water treatment in major river basins, ecosystem conservation, nuclear radiation safety, and environmental management."

Many have questioned both the seriousness of the Chinese push to green its economy, and its ability to get the job done. This kind of investment -- representing as it does more than 1.5% of China's GDP -- is a positive signal in both directions.