China will speed up development of the energy-saving sector and make it a pillar of the national economy by 2015, top policymakers said on Sunday.
The State Council vowed in a statement to spur technological innovation, expand demand for energy-saving products and boost the environmental-protection service industry.
According to the State Council, the value of the energy-saving industry's output will reach 4.5 trillion yuan ($728 billion) by 2015, an average annual growth of 15 percent.
Wang Xiaokun, an energy analyst at Sublime China Information, a Chinese commodities consulting firm, said the policy gives clear direction to the industry and brings opportunities to investors, including private companies.
The government will play a leading role and allow non-State capital to invest in energy-saving projects.
"The government encourages low-carbon and energy-saving development, which means business opportunities to the suppliers for such industries," said Wang. "For instance, the equipment manufacturers for power plants and grid will benefit from the policy."
Source: Xinhua
