US targets more trade in green energy sector
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China Daily, September 10, 2011
The United States is seeking to expand bilateral trade and investment with China in energy market and energy efficiency technologies, as the US government plans to direct its economy toward clean energy, Brian L. Goldbeck, US consul general in Guangzhou, said on Friday.
He made the remarks during the US-China Enterprises Investment Cooperation Forum on Energy Efficiency 2011 held in Xiamen, Fujian province, which is part of the five-day 15th China International Fair for Investment and Trade that opened on Wednesday.
Goldbeck said the two sides make environmental cooperation top priority in the bilateral relation, as the US has important technology that it can share with Chinese companies, helping Chinese cities and people to achieve their energy saving targets.
"We welcome Chinese firms to invest in the US and many Chinese firms in sectors including renewable technology, telecommunication and industrial equipment have realized powerful outcomes after locating operations in the US, bringing hope for other companies who will follow them to invest in the US," said Barry E. A. Johnson, executive director at Select USA Agency.
Established by the US Department of Commerce in June, the Select USA Agency aims to facilitate and attract foreign investment in the US.
Johnson said Select USA's initiative would help Chinese firms to access the US market and succeed, including in the renewable energy and clean technology industries.
"We know many Chinese companies are eager to enter the US clean-tech market," said Johnson, adding that the green sector in the US is projected to maintain a solid growth rate.
Ernst & Young's Renewable Energy Country Attractiveness Indices show that China and the US have maintained the two most attractive markets for clean energy projects in the world.
"Chinese firms are actively investing in the green sector in the US which is the most attractive market for solar power and the No 2 market for wind energy," Johnson said.
Between 2003 and May 2010, Chinese firms invested in 157 green field projects in the US and total Chinese investment in the US has reached $6 billion, with significant growth year-on-year, according to the US Department of Commerce.
"The increase of FDI demonstrates China's interest in the US, and the US welcomes these foreign firms to participate in our economy," Johnson said.
China's Minister of Commerce Chen Deming called for a more open and convenient global investment environment for Chinese firms on Wednesday during the International Investment Forum 2011 in Xiamen.
In 2008 and 2010, China's leading telecom provider Huawei was blocked from a series of overseas deals, due to concerns in the US over national security.
"China will continue to strengthen cooperation in the clean energy field with the US to deal with the energy shortage, as the global economy expands," Zhang Yingxin, deputy director general at China Investment Promotion Agency of the Ministry of Commerce, said.
In order to save energy, the State Council of China announced a campaign to reduce energy consumption by 16 percent for every 10,000-yuan unit of GDP by 2015 as compared with five years earlier.
