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Energy Saving Market

Currently there are serious energy inefficiencies in China. China’s tons of oil and equivalents consumption per $million GDP increased from 2002 to 2007, implying decrease of energy efficiency.

Measuring energy inefficiency by Energy Saving Index, China ranks 56 in the world.

China’s 11th Five-Year Plan (2005-2010) has set energy conservation and emission reduction targets to be achieved by local governments and industries and will invest no less than RMB 1 trillion to reach these energy savings goals by 2010. The Government will reward enterprises according to the total savings from their energy-saving projects and the Central government has set aside RMB 7 billion to support the top 10 key energy saving projects. Emission reduction will be an important criterion in evaluating the performance of the leaders of local governments and large state owned enterprises.