Renewable energy to get 10b yuan funds boost

The China New Energy Chamber of Commerce (CNECC) has vowed to establish a renewable energy industry fund worth 10 billion yuan.

"Although it's at a fledgling stage, the chamber has the resolve and competence to fulfill this ambitious target," said Li Hejun, chairman of the chamber and president of China's leading private power enterprise, the Farsighted Group.

The chamber was set up a year ago and has 100 members. It will ramp up its efforts to raise funds and pour them into small- and medium-sized enterprises (SMEs) engaged in China's booming renewable energy industry.