China: Will spend $275bn on pollution

China will spend $275 billion to tackle air pollution over the next five years, according to a report of the Associated Press. The report carried by the China Daily said the plan targets Beijing, the neighboring port city of Tianjin and densely populated Hebei province, which surrounds them. The report said the latest initiative aims to reduce emissions of pollutants in Beijing and surrounding areas by 25 percent by 2017 from 2012 levels. It said details would be released in late July at the earliest. In 2012, Hong Kong's gross domestic product was $263 billion.