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China Knowledge: Clean-coal energy to boom in China

Oct. 4, 2007 (China Knowledge) – Commerce Minister Bo Xilai forecast foreign companies, which own clean-coal technology and work with Chinese partners in coal sector, will gain great profits with small capital as China has been making continuous efforts to reduce greenhouse gas emission and ease its increasing thirst for oil.

Bo said China is focusing on the sustainable development of coal and energy. It is quite important to reduce emission in developing coal industry because coal is one the most import energy source. In the recent six years, China’s export of coal has accumulated to 510 million tons. China encourages foreign companies with advanced technologies to tap on China’s coal reserve.

Several major foreign companies such as Royal Dutch Shell Plc, Sasol Ltd from South Africa, General Electric, ABB Group and Siemens AG have cooperated with local companies to produce electricity and liquid oil from coal.  The local economic planning agencies plan to invest US$6 billion in large coal-to-chemical projects in coal-rich western regions, such like Shanxi and Shaanxi provinces.

Bo made his prediction during the first China International Coal and Energy New Industry Expo 2007 held in Taiyuan, capital city of Shanxi province, late September, which has attracted 155 enterprises from 44 countries.

Copyright © 2007

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