China Invested $267B In Clean Energy From 2008 To 2013

China ranks as the largest manufacturer of wind and solar equipment in the world, and is also the largest demand market for the two industries, according to a research report jointly released by U.K.’s the Department for International Development, the Inter-American Development Bank Group and the Bloomberg New Energy Finance.

China has invested US$54.5 billion in clean energy in 2013, and its investment in the sector experienced rapid growth from 2008 to 2013, totaling US$267 billion for the five-year period, says the report.

The statistics are largely in line with the Pew Charitable Trusts’ earlier estimate of US$54.2 billion investment in the clean energy sector last year in China.

The Chinese government is taking a more centralized approach in developing the country’s renewable and clean energy sector. It is focusing on higher utilization as a priority, in addition to increasing power generation capacities, a Fitch Ratings report said earlier this year.

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