China still leading clean energy investment
Updated: 2011-03-30 15:14
By Ren Jie (chinadaily.com.cn)
China was the leader in clean energy investment last year. The country spent $54.4 billion on clean energy development in 2010, according to statistics from Pew Charitable Trusts, an independent nonprofit group from the US.
Germany invested $41.2 billion, which puts the country directly below China. The United States' investment of $33 billion ranked third largest, sina.com.cn reported Wednesday, quoting Pew's latest report, "Who's Winning the Clean Energy Race".
"The United States' position as a leading destination for clean energy investment is declining, because its policy framework is weak and uncertain," Pew Clean Energy Program Director Phyllis Cuttino said in a statement. The Chinese government set a minimum clean energy target that help the nation achieve the position it's in, according to the report.
China's clean energy companies hold a leading position in initial public offerings on the US stock markets. Most of the solar energy companies traded on the NASDAQ and the New York Stock Exchange were from China. Their gross market value had reached a combined $10 billion as of March 17, according to sina.com.cn.
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