Market Insight
China
The low carbon economy is becoming a hot topic in China. UK fi rms looking to tap into the booming market for low carbon technologies should look to exploit the interest from the provinces in particular
China is home to the world’s biggest population and coupled with economic growth rates of around nine per cent for the past 30 years, its environment and ecology has suffered massive negative impacts in both urban and rural areas. According to Chinese sources, approximately
35 per cent of the total territory has been affected by acid rain and over 40 per cent of river basins are polluted. Over 25 per cent of Chinese residents drink contaminated water, while 400 Chinese cities, from a total of 667 cities, are facing water supply shortages. 35 per cent of urban people breathe polluted air. Only 32 per cent of all hazardous solid waste is currently treated. Such serious pollution has had a signifi cant impact on public health and long-term sustainable development. Foreign economic experts estimate that environmental pollution costs the Chinese economy around US$28 billion annually. Public awareness of environmental issues
has also increased dramatically. Citizens are currently pushing for greater transparency with regard to industrial accidents, environmental impact reports etc. More foreign experience in environmental protection and treatment has been introduced to both governmental departments and the public. The Beijing Olympic Games in 2008 helped to rouse the public interest in environmental development. The Government is now trying hard to
manage its rapid economic development in a sustainable way by curbing environmental deterioration. The Central Government has been actively promoting national policies of improving energy effi ciency and emissions reduction. The new Ministry of Environmental Protection
(MEP) was established in 2008 to improve the environmental governance capability, and has provided hope that enforcement will be taken seriously. With a seat at the State Council, the Minister of Environmental Protection has the chance to make himself heard. The UK’s environment and water sector
$28billion
Estimated cost to the Chinese government due to environmental pollution per year
has a market value of £25 billion per year and a reputation for delivering world-leading capabilities and outstanding solutions and services. The industry combines its traditional industrial expertise and scientifi c excellence with a strong innovative approach to technology, regulation and policy to ensure global competitive advantage. The UK has an excellent reputation in this sector with many companies having successfully delivered major projects in the local market. Future prospects appear to be very good.
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