The World's #1 Renewable Energy Network for News, Information, and Companies.
Untitled Document

China Set to Vigorously Develop Green Economy

Due to growing urbanization and resulting environmental threats, China has invested nearly US$50 billion annually into its renewable energy sector since 2009. China's five-year investment in environmental protection is on track to reach 3.1 trillion yuan (US$454 billion). By 2015, its environmental protection industry is expected to top 2 trillion yuan (US$317 billion).

China will introduce favorable tax and financial policies to support the development of its green economy, according to its 12th five-year plan, which started last year. A strong “green” policy is essential if China is to maintain its rapid and sustainable growth. "China will build a good fund raising environment for companies to develop green technologies by establishing green technology investment and related equity funds," said Wang Yuqing, deputy director of the Committee of Population, Resources and Environment of the CPPCC National Committee. 

The transition to a global green economy may generate a large market exceeding US$1 trillion. During the 12th five-year plan period, the Chinese government will invest US$468 billion in green sectors compared to US$211 billion over the previous five-year period, with a focus on three sectors: waste recycling and re-utilization; clean technologies; and renewable energy. With this amount of public investment, China's environmental protection industry is expected to continue growing at an average of 15 to 20 percent per year, and its industrial output is expected to reach US$743 billion, up from US$166 billion in 2010. The multiplier effect of this emerging sector is estimated to be 8 to 10 times larger than other industry sectors.

However, Chinese green companies, especially privately-held ones, are facing difficulties in gaining support from capital markets and depend mainly on funds and subsidies provided by the government. Industry experts are advising these companies to seek funding sources outside of the country, including sovereign investment and national funds. The Swiss government, for example, has established funds to support the development of the low carbon sector in China.

During the recent 4th China International Forum on Green Development held in Guangxi province, industry experts gave speeches on a wide range of subjects, including energy conservation, emission reduction, corporate responsibility and green energy. The cities' commitments to reduce emissions play an important role in China’s green development. "According to official statistics, nearly three quarters of China's carbon dioxide emissions are released from its cities annually, and the top 100 cities make up 51.3 percent of the total emissions per year," said Niu Wenyuan, a counselor to the State Council.

An industry analyst pointed out that China would face challenges in raising funds for the development of its green economy. According to the United Nations Environment Program, US$750 billion per year from 2010 to 2030 is required to support the transition to a global green economy — and the figure jumps to US$1.6 trillion per year from 2030 to 2050. From 2007 to 2008, non-OECD countries renewables investment jumped from 29 to 40 percent of the world’s total, with the lion’s share coming from just three countries: China, India and Brazil. 

Untitled Document

RELATED ARTICLES

States Already Seek To Delay Clean Power Plan

Andrew Harris, Bloomberg Fifteen states led by coal-rich West Virginia asked a federal court to stall Obama administration rules intended to c...

Campus Flora Fuels Research into Bioenergy-Inspired Energy Storage

Joe McCune, Missouri S&T Dr. Umit Koylu, a professor of mechanical and aerospace engineering at Missouri University of Science and Technology,...

Sugarcane Bioethanol Project in Sierra Leone Underscores the Challenge of Producing Bionergy in the Developing World

Andrew Burger West Africa may be one of the most difficult and dangerous regions of the world in which to work, posing challenges t...

Unlikely Allies in North Carolina Clean-Energy Fight

Mark Drajem, Bloomberg With North Carolina’s renewable energy mandate under assault from Republican legislators, green groups seeking to sav...

PRESS RELEASES

Intersolar AWARD „Solar Projects in India“ – Applications being accepted until September 18

The Intersolar AWARD in the category Solar Projects in India honors projects in the fie...

OFS Announces Commercial Availability of InvisiLight® MDU Optical Solution for Multiple Dwelling Units

OFS, a leading-edge designer, manufacturer and supplier of innovative fiber optic netwo...

New local energy partnership brings innovative solar tracker to Washington State

A new partnership will bring the innovative AllEarth Solar Tracker solar electric syste...

30 days to GRC Annual Meeting & GEA Geothermal Energy Expo

The Geothermal Resources Council (GRC) has announced that it is only 30 days to go to t...

FEATURED BLOGS

Washington, DC Bridges the Solar Gap

The District of Columbia has enjoyed 15 years of strong economic growth. But prosperity is spread unevenly across the...

Cronimet / THEnergy study: In solar for mines size does not always matter - Reducing CAPEX with energy efficiency and load shifting

Munich, September 2015. Mining companies are constantly gaining interest in solar solutions because frequently solar ...

Final Program Now Available for GRC Annual Meeting & GEA Geothermal Energy Expo

GRC Annual Meeting & GEA Geothermal Energy Expo - Final Program from

Vacancy? No Problem!

Have you ever tried to sell an efficiency product or service to a prospect that owns or manages a building with high ...

FINANCIAL NEWS

Nanjing Shanglong Communications Liu Yuanyuan is Director of Operations and Co-Founder of Nanjing Shanglong Communications. Liu Yuanyuan previously held the position of office manager at the London Financial Times' China translation and editoria...

CURRENT MAGAZINE ISSUE

Volume 18, Issue 4
1507REW_C11

STAY CONNECTED

To register for our free
e-Newsletters, subscribe today:

SOCIAL ACTIVITY

Tweet the Editors! @jennrunyon

FEATURED PARTNERS



EVENTS

Doing Business in South Africa – in partnership with GWEC, the Glob...

Wind Energy in South Africa has been expanding dramatically, growing fro...

Intersolar North America 2016

Exhibition: July 12 - 14, 2016; Conference: July 11 - 13, 2016 Intersola...

Intersolar South America 2015

Exhibition and Conference: September 1-3, 2015 Intersolar South America ...

COMPANY BLOGS

How To Recruit An Internal Ally

When you’re collecting information for a proposal, the person with...

The Proof Is Not Always In The Pudding

One of the best ways to turn a skeptical prospect into a buyer is to giv...

Pushing Beyond The Cushion

Efficiency projects are all too often viewed as “optional” o...

NEWSLETTERS

Renewable Energy: Subscribe Now

Solar Energy: Subscribe Now

Wind Energy: Subscribe Now

Geothermal Energy: Subscribe Now

Bioenergy: Subscribe Now  

 

FEATURED PARTNERS