China will offer fair treatment to both domestic firms as the foreign capital in developing the green economy, reiterated on Monday in Beijing Vice Commerce Minister Jiang Yaoping.
“The Chinese government will continue adhering to the open policy of mutual benefit and ensure that foreign companies can invest in the sector on an equal footing,” said Jiang at a press conference dedicated to a fair on green industries to be opened Wednesday in Beijing.
“China has opened its economy green competitive bidding process, fair and transparent,” added the deputy minister.
The International Fair of High Technology Industry and Economics Ecological Green last four days and will feature 127 participants, of which 85 are foreign owned companies.
In this sense, a climate change report released yesterday in China highlights the great potential of the country in renewable energy sector, which is considered a call to attract investment in this sector.
The “Annual Report on action to tackle climate change,” which was published by Social Sciences Academic Publishers, includes figures showing that wind power capacity of the country grew by 100 percent annually since 2006. Until late 2009, the capacity of wind power generation in China surpassed the 24,000 megawatts, ranking second after the United States.
The country also has focused on the closure of inefficient industries for their high energy consumption. Some 1259 small mines have been closed since mid-September 2009, surpassing by 80 percent the country’s goal for this year, the report said.
However, the report also refers to various problems with current environmental protection actions. Some local governments believe that economic development is incompatible with saving energy and reducing emissions and continue to invest blindly in energy-intensive industries to seek growth at any price.
This has led to a number of local governments implement energy-saving goals without scientific basis and do not have detailed implementation plans and political support.