Report: Renewables to aid China's growth

DUBLIN, Ireland, May 18 A new report places alternative energy sources in a plan that highlights China's goals for energy security and the future potential of foreign investment.

The Frost & Sullivan report, "Political and Policy Analysis for the Chinese Energy Industry," analyzes environmental regulations, energy security and energy policies that have become increasingly significant among Asian countries. In China, the rapidly growing energy industry is vital to continued economic growth. Favorable relations with countries including Russia, India and the United States to facilitate the import of oil and the expansion of other energy resources such as nuclear energy are some highlights of the country's political agenda.

The report says China has laid emphasis on the use of renewable energy sources such as solar power to deal with environmental problems and achieve sustainable development. China's five-year plan highlights the importance of energy security, an increase in the share of renewable energy, and additional capacity in power generation through alternate sources such as wind, hydropower and solar energy.

The report also says increasing environmental consciousness, privatization and international agreements signed by China have helped create a vibrant market to attract foreign and domestic investments.

This Frost & Sullivan Country Industry Forecast service for the Chinese energy industry uses a macroeconomic perspective to provide a focused analysis of the industry. The service covers issues pertinent to the energy industry, ranging from political stances, trade policies and industry regulations along with their overall impact.

Copyright 2007 by UPI

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