China's green industry boosts inward investment

(China Daily)

2010-11-27 09:53

BEIJING - Partly as a response to the global climate challenge, China's booming green industry has become the engine that boosts global economic cooperation and encourages investment into the country.

"We are vigorously seeking international cooperation in various fields of green technology," said Jiang Yaoping, vice-minister of commerce.

So far, China has signed Memoranda of Understanding with many countries, including the United Kingdom, Switzerland, Italy, Finland, Canada and Germany, to co-develop the country's green economy, Jiang said.

He said the ministry is working with relevant government agencies on the revision of the catalog for the encouragement of foreign investment industries, so that overseas investments will be encouraged to flow into emerging and energy-conserving industries, such as the advanced manufacturing sector, and participate in the transformation and upgrading of China's traditional industries.

"We can see China is taking very serious steps in developing clean technologies. The prospect for China's (green technology) market will be very bright and Finnish companies' know-how will be quite profitable," said Erkki Virtanen, permanent secretary of Finland's Ministry of Employment and Economy.

Finland is a country renowned for advanced green technologies in sectors such as processing, renewable energy and environmental measuring.

Over recent years, the country has earmarked 4 percent of its GDP to the research and development of clean technologies, said Virtanen.

Related readings:
China's green industry boosts inward investment China approves new plan to boost green industries
China's green industry boosts inward investment ABB's Hogan eyes green revolution
China's green industry boosts inward investment Green living: people-oriented, but everyone has to participate
China's green industry boosts inward investment Official urges self-innovation of green technology

Against this backdrop, Pac-Solution Ltd, a Finnish water treatment company, is seeing its business take off in the Chinese market. "We are now the only Finnish company operating in China in this specialized area and the market environment is quite favorable," said Jaakko Helenius, its chief executive officer.

The company set up an office in China two years ago. Currently, it is running pilot programs in Russia and Brazil, and its pilot program in Anhui province will begin in two months, he said.

In 2009, 35 percent of the company's revenue came from China, and within the next three to five years, revenue earned in the Chinese market is expected to reach between 15 million euros ($19 million) to 20 million euros, "which is very achievable", Helenius added.

Meanwhile, Det Norske Veritas (China) Co, a Norway-based classification society and risk management provider has similar expectations.

In 2009, revenue from China's market accounted for 10 percent of the Norwegian company's overall business revenue, and 30 percent of its revenue in China is from the green industry.

Charger captures power from Wifi

A US electronics company invented a charger that draws its power from Wifi signals, according to TGDaily.com.

'Green seeds' chewing gum bottle

The "Green Seeds" chewing gum bottle designed by Jiang Gonglue makes it easier for you to deal with gum residue.

Bulb water heater

A French graduate designed a kettle using an incandescent bulb to heat water, according to dezeen.com

China International Green Industry Expo 2010

The China International Green Industry Expo 2010 (CIGIE 2010) is an important international green industry exhibition hosted by the Chinese government and held at the Beijing Exhibition Center, Nov 24 to 27.

China Wind Power 2010 Conference&Exhibition

China Wind Power 2010 is the largest and most important international wind power conference and exhibition in China.

TradeWinds Shipping China 2010

TradeWinds Shipping China 2010 moves to examine every important facet of the shipping industry's fortunes.