The green sector is an important part of the Chinese government’s 13th Five-Year Plan, and is going to be an important topic during the upcoming Two Sessions in Beijing.
“These socially beneficial industries are usually hard to develop. While companies should be proactive, the government has a responsibility to support them,” said Chan King-wai, associate director of the Committee of Economic Affairs of the Chinese People’s Political Consultative Conference (CPPCC).
With public environmental awareness rising, the green sector has become a lucrative industry in its own right.
David Wang, general manager of Shanghai Greenwave Enviro-tech Co., said that about 70 percent of his clients in Shanghai were previously foreign corporations, while selling to domestic firms proved difficult.
“Because at the time even though there were service providers, it was very hard for the consumer to choose you, because they don’t have a lot of consciousness towards pollution, towards health threats,” Wang told CGTN.
But Wang said more domestic deals are expected as local firms begin to realize the importance of the environment, seeking solutions for providing clean water and air filtration.
Thanks to the 13th five-year plan detailing environmental standards, the solar industry is also ushering in a bright era.
Although China plans to curtail its power capacity in 2017, the solar industry is expected to reach 110 gigawatts of capacity by 2020 according to the 13th five-year plan.
Jing Nealis, chief financial officer and managing director of the International Division at Shunfeng International Clean Energy, is confident on the future of the solar industry, saying “solar photovoltaic will reach parity on the supply side by 2018, and parity on the consumption side compared to coal fire electricity by 2022.”