As the unceasing development of human society, People's requirements of the quality of living environment improve constantly. Good living environment is not only fresh air,beautiful flowers and green leaves, but also the decisive factor of our social and economic development. However, no attention to the sustainable development of environment along with economy development, have caused our environment to be deteriorated, energy resources to be wasted and living environment to be damaged seriously. Sandstorm weather, ozone hole, primitive forests disappearance and so on affect our life. Economic growth and social progress also need good ecological environment support. As a result, now many countries and regions attach very great importance to the protection of the environment and improving the environment. China also turn from the originally simple pursuit of economic output growth to pursuit of comprehensive, coordinated and sustainable development, and pay more attention to the coordinated development between economy and society, human and nature, to construct a harmonious society. This paper first introduced some relevant concepts such as the environment economic policy, environmental protection investment. And it contrasted China and Japan respectively in the premise background, process and results of the environmental protection investment, thereby reviewed the externality theory, environmental economic accounting theory, public choice theory, pollution-discharge right trade and environment tax theory. On this basis, it constructed environmental protection investment system framework under the environment economic policy with the main body of government, enterprises and individuals. It put advanced Japanese environmental protection investment theory into use to guide our daily production and life for the development of Chinese environmental protection industry.This paper, under the system of environmental economic policies, by a comparison of the investment in environmental protection between China and Japan, learning from and absorbing the advanced experience from Japan, points out that the Chinese system of environmental economic policy is not perfect, that need to optimize the reform of the original investment style in environmental protection which is excessively dependent on government funds, and further to make market mechanism play a part in optimizing the allocation of resources, that achieving long-term, high efficient and benign operation should make negative externalities internalize, though mobilizing the main respective advantages. China is still a developing country, which is highly dependent on environmental resources; therefore it is necessary for us to take full advantage of the environmental and economic policy, and also investment in environmental protection practices under the environmental and economic policy, in order to achieve the efficient allocation of environmental resources. To establish and optimize the system of environmental economic policy in our country, to strengthen the scientific management of the investment in environmental protection, to realize the optimal allocation among material, money and people, which are all in order to achieve the sustainable development of the environment economic under the new situation of socialism. |