New energy industries to fuel China's green growth
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With China's ambitious plans to cut carbon emissions for a greener economy during the 12th five-year plan period from 2011 to 2015, new energy industries are becoming even more significant than in the past.
These industries will be responsible for serving the country's growing appetite for energy to feed its rapid development.
According to a report by the International Energy Agency (IEA), China overtook America as the world' s largest energy consumer in 2010.
Demand by China, which has outpaced Japan to become the world's second largest economy, will keep climbing rapidly in years to come, the report said.
But with the world oil supply on a downslide and prices heading skyward due to unrest in the Middle East, China will increasingly feel pressure to meet its energy demands.
To guarantee enough fuel for economic growth, experts point to the new energy sector, namely renewable sources such as wind, solar, nuclear and tidal power, as an answer.
"Traditional energy sources will run out sooner or later. We should take actions to brace for the shortfalls now," said Qin Haiyan, secretary general of the Chinese Wind Energy Association (CWEA).
"Surging oil prices made us all the more determined to develop renewable energies," he said.
China's new energy sector has witnessed significant developments over the past several years as part of the government's efforts to reduce carbon emissions.
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