China’s Water Needs Create Opportunities
The New York Times reports about optimism among Canadian companies about opportunities to help develop China’s green technology sector, specifically in water treatment:
Recent stimulus spending has opened up the Chinese market to green initiatives. And Canadian companies are responding to the call for advanced water treatment and reuse technology.
“It’s not well known that China has set aside more money for the adoption of clean technologies than any other country on the planet,” said Dallas Kachan, managing director of Cleantech Group in San Francisco, which tracks global investment in clean technologies.
The Chinese economic stimulus package of 4 trillion yuan, or $585 billion, announced a year ago, focused nearly 40 percent of its spending on environmental and energy-efficient projects.
The climate change meeting in Copenhagen in December is likely to prompt policy shifts that further drive the market for clean technologies in China, Mr. Kachan said. “This is possibly the best time to be doing business in China as a clean-tech company,” he said. “It’s important to get in now and form relationships.”
Time Magazine recently reported on difficulties foreign companies may face in entering China’s renewable energy market.