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China sees growing share in clean energy

Updated: 2009-12-12 15:47
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China is enjoying a rapidly growing share of the clean energy sector, which is poised to become the third largest industrial market worldwide, according to a report issued Friday by the World Wildlife Fund for Nature.

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The report ranked China fourth in terms of absolute sales of clean energy and sixth relative to its GDP.

China, now the world's largest producer of solar heaters, is expected to become the second in generating wind energy.

China boasts 60 percent of the world's solar water heaters.

Statistics show that China exported renewable energy solutions worth $430 million in 2007 and many of its renewable energy companies are now doubling annual revenues.

The report predicted that by 2020 the clean energy industry would be worth 1,600 billion euros (about $2,400 billion) a year, ranking behind automobiles and electronics as the third largest industrial sector.