China¡¯s ¡°Green¡± sector predicted to reach 10% of GDP

In a report issued by China Business news, Chinas energy conservation, and environmental protection industries may contribute up to 5.3 trillion yuan or 776 billion USD by the year 2015. This would account for nearly 10% of predicted gross domestic product.

According to the secretary of the China Environment Service Industry Association, Luo Jianhua, China¡¯s ¡°Green¡± sector could grow at up to 20 percent every year between 2011 and 2015. This sector of the economy already makes up a significant 4.9% of GDP thus this predicted growth would indeed be impressive.

These figures come in the wake of recent announcements regarding the details of the PRC¡¯s latest five year plan which places heavy emphasis on the development of the ¡°green¡± sector and the reduction of China¡¯s carbon emissions. Please see our blog at http://blawg.lehmanlaw.com/english/ for more information

These figures indicate that China is committed to becoming a world leader in green technology and is dedicated to a so called green growth plan in which high levels of economic growth will be accompanied by high levels of carbon reduction.

Scott Garner the director of Lehman Lee and Xu¡¯s Shanghai office said that he is ¡°excited to see China stepping up its efforts to develop a thriving green technology sector and increase its environmental regulations. We are all excited to help firms operating in the PRC to navigate China¡¯s expanding system of environmental regulations in order to help create a sustainable future for us all.¡±


-Alexander Pan



Submit Comment

Required

Resident Blawgers