Red China is turning green by the day! The Chinese government has begun assigning added priority to green technology through funding and regulations. It has introduced new projects and technologies for green business.
With government policies turning favorable of late, many large business groups have invested huge amounts and efforts in the field of green technology. For instance, the solar industry has returned figures of 50 percent in the fourth quarter of last year. Comparatively, the United States have recorded only 43 percent growth during the same period.
The Chinese government has given much priority to their wind power projects so that industry gets good returns from their businesses. While the numbers read 12,100 megawatts in 2008, it grew to 25,100 megawatts by the end of 2009. Within a limited period of time, China has over taken other countries, particularly the United States. One reason is being attributed to the continuing financial slowdown, which has impacted the US so bad.
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