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China's green industry to hit $132 billion

(chinadaily.com.cn)
Updated: 2009-09-18 14:57

The total output value of 1,300 Chinese enterprises in the environmental protection industry will hit 900 billion yuan ($131.83 billion) by the end of this year, said Wan Bentai, chief engineer with the Ministry of Environmental Protection (MEP), the Xinhuanet reported.

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Speaking at the fifth China International Forum on Environment and Development held in Beijing on Thursday, he said energy saving and environmental protection is a newly emerging industry in China.

Wan said China will take the industry of environmental protection as a new growth point of economy, especially in the current financial crisis. He says the country will continue to increase investment in the field of environmental protection.

Wan said 5.25 percent of the 4-trillion-yuan stimulus package launched by the Chinese government, or 210 billion yuan (US$30.74 billion), will be used for reducing emission and environmental protection. The potential market is huge, he added.

The forum was co-hosted by the MEP and the United Nations Environment Program. It was organized by the All-China Environment Federation.