Optimism Over China's Green Technology Market (a Trillion?)

From the Wall Street Journal:

A group of Western companies says it can foresee a $500 billion to $1 trillion market annually for clean technology in China, according to a report published Thursday meant to highlight how a big new industry might develop in the world's most populous nation.

The China Greentech Report 2009 outlines over 300 clean energy, construction, transport, water and other businesses that might realistically open in China. The meaty, data-packed report was put together by a group calling itself China Greentech Initiative, made up of more than 80 predominantly large Western companies and organizations with interests in the environmental sector. The headline figure of up to $1 trillion annually reflects revenue the group says ultimately could be generated from widespread adoption of cleaner solutions, a best-case scenario given expectations about China's growth trajectory. The figures are neither a projection, nor is the report the first attempt to draw attention to the seemingly vast market potential in China. "The story that has emerged is largely an optimistic one, tempered by the complexity of China's markets and the challenges that must be overcome," says the report.

The report's outline of China's potential market size for companies from China, the U.S. and other countries is designed to convince government and corporate policymakers that spending money to tackle the world's environmental challenges will have a financial payoff....

...The Greentech Initiative group takes an optimistic view: A summary section of the report outlining opportunities extends to 24 pages, while a chapter on challenges stops at 13 pages. Elsewhere, the report dives deep into technical areas such as how companies might focus on building "smart grid" electricity power systems for China, and the barriers to doing it....MORE

HT: Environmental Capital