Green Technology Market to Attract Huge Investment
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The China Greentech Report 2009, released Thursday in north China's coastal city Dalian, said China's green technology market would attract more investment and estimated a market with a potential value up to US$1 trillion annually.
The report, jointly issued by the PricewaterhouseCoopers and American Chamber of Commerce in Shanghai at the 2009 Summer Davos, estimated the size of China's green technology market could be between US$500 billion and US$1 trillion annually, or as much as 15 percent of China's forecasted GDP, in 2013.
It examines market opportunities in seven sectors, including cleaner conventional energy, renewable energy, electric power infrastructure and green building.
The Chinese government's policies were positive drivers for green technology market development and a wide range of businesses were beginning to develop green technology solutions to address a broad spectrum of environmental issues, it said.
Although the opportunities in China's green technology market were attractive, market, technology, financing and regulatory challenges remained to be overcome, it said.
The three-day summit, also known as the Annual Meeting of New Champions 2009 under the World Economic Forum, attracted about 1,400 business leaders and policy makers from 86 countries and regions.
(Xinhua News Agency September 11, 2009)