China's revamped Environment Protection Law could make it cheaper for polluters to clean up than mess up. By ramping up the costs of breaking the rules, it improves on what came before. Like many of China's reforms though, it leaves room for Beijing to
pick winners and losers.
Environmental damage costs China around 9 per cent of its gross national income, more than ten times the level of neighbouring Japan and South Korea, according to the World Bank's China 2030 report. That's a drain that a slowing economy can no longer ignore.