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British company to improve low carbon economy in China
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16:24, September 10, 2009

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On September 8, the Carbon Trust set up in 2001 by the UK government as an independent company, announced that it set up a joint venture with registered capital of 10 million pounds in Beijing, in order to help UK enterprises to develop low carbon technology in China.

The joint venture is co-founded by the Carbon Trust and the China Energy Conservation Investment Corporation (CECIC) , which aims to develop and deploy low carbon technology in China. China has become one of the fastest growing market of low carbon technology in the world.

Hence, the target of the JV is to accelerate the progress of innovation on low carbon. It will promote the innovation and shift on China's low carbon technology to help UK clean energy technology companies develop markets in China and reduce carbon emissions of the world. Besides the first 10 million pounds' input by the Carbon Trust and the China Energy Conservation Investment Corporation (CECIC), the JV will also prepare to absorb the third-party funds from the public departments and private institutions.

There are two main targets for the JV. One is to develop emerging low-carbon technologies and introduce parts of UK low carbon technology enterprises to China; the other is to supply the capital input for British and Chinese low carbon companies in China.

Lord Mandelson, British Business Secretary and First Secretary of State,expressed that the new JV is a double-win program, which can not only help British companies enter into Chinese market, but also improve the development of new clean technology for China.

Tom Delay, CEO of the Carbon Trust, stated that China is a large emerging market for clean technology companies, and the new JV will be the bridge for UK companies to enter into Chinese low carbon market.

The innovative thinking of the Carbon Trust plus CECIC’s expertise on China's clean energy will explore new opportunities in the field of low carbon for British and Chinese enterprises in China.

By People's Daily Online

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