The Chinese government’s investment in research and development of green technologies has exceeded 10 billion yuan (1.47 billion U.S. dollars) for the 2006-2010 period.
Zhang Laiwu, vice minister of science and technology, made the remark Thursday at a press conference in Beijing, also saying that China had developed key technologies that could cut greenhouse emissions.
China has applied energy-saving technologies to traditional industries including steel, power, building materials, chemicals and agriculture, which have enhanced their competitiveness, he said. China has also issued supportive policies for new-energy industries. For instance, the pilot program of energy-saving and new-energy vehicles has been implemented in 25 cities, and the government has provided subsidies for the purchase of 5,000 vehicles, he said.
Also, more than 1.6 million LED lights were being used in 21 cities in a pilot program to promote the use of LED lights, which will save more than 164 million KWH of electricity annually, he said.
Another interesting story this month revealed that China has succeeded the United States as the most attractive location to invest in renewable energy projects. China's clean energy market - particularly in solar, biomass and wind - are presenting golden opportunities for investors.