U.S. new energy firms eye China market

09:21, May 23, 2010      

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The U.S. new energy companies are looking to tap huge business opportunities in Chinaas the energy legislation that backs renewable energy still faces uncertain future in their home country.

Chinahas invested billions of U.S. dollars into solar, wind and nuclear power plants to fuel growth of the world's third-largest economy and cut heavy reliance on polluting coal-fired plants.

It needs clean energy technologies and products to help meet its target on the reduction of greenhouse gas emissions, said Zhang Xiaodong, deputy director of the energy research institute with the Shandong Academy of Sciences.

Chinahas set the target of reducing the emission of carbon dioxide per unit of gross domestic product by 40 to 45 percent of its 2005 level in 2020.

OPPORTUNITIES

U.S. Commerce Secretary Gary Locke sees huge business opportunities in China.

"The opportunities are stunning in Chinabecause Chinahas enormous economic growth and that economic growth has led to enormous demands for energy," Locke said in a trip to the northern port city of TianjinSaturday ahead of the China-U.S. Strategic and Economic Dialogue scheduled for Monday and Tuesday in Beijing.

He is in Chinato promote exports of leading U.S.technologies and services related to clean energy, energy efficiency, and electric energy storage, transmission and distribution.

He led executives of 24 clean energy companies, including General Electric Co., First Solar Inc., and Boeing Co., in the Obama administration's first cabinet-level trade mission.


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(Editor:黄蓓蓓)

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