Climate Group says China leading low-carbon economy

China is quickly becoming a world leader in establishing a low-carbon economy, according to a report released Wednesday by the international non-profit organization called The Climate Group.

Investments and other business opportunities in low-carbon products and services in the China market are expanding, showing great potential, the report said.

The report revealed China's low-carbon economy has developed in the last three years and the country has made achievements in new energy vehicles, industrial energy saving, low-carbon construction and renewable energy sources.

Currently, China produces 40 percent of the world's photovoltaics and more than 50 percent of solar energy water heaters worldwide. At least 70 percent of the total wind power equipment were produced and assembled in China.

There are about 66 million cars in China, about one-third of the total cars in the world, while annual gas consumption makes up 60 percent of China's total petroleum production. The number of cars is expected to exceed 150 million in 2020 and the annual gas consumption will reach 250 million tons at that time.

Earlier this year, China put forward energy-saving policies in 10 major industries since energy saving is one of the most important factors for the country to have sustainable economic growth.

According to a plan by the National Development and Reform Commission (NDRC), China's low-carbon construction will also see a dramatic increase.

In the field of renewable energy sources, China strives to become a producer rather than a consumer.

The report also pointed out the country need to breakthrough the challenges of technological innovation and financing.

Also, the implement and supervision of the environmental policies needs to be strengthened.
 

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