China has to confront a lot of environmental problems brought forth by its own quick development, and when China confronts an issue they go all out! Renewable Energy World has a quick write up comparing and contrasting China and the USA in how they support green technologies.
The China Development Bank (CDB) is being relentless in its funding of clean-tech concerns. While American politicians battle it out over Solyndra’s collapse and potential loss to the government of $528 million, the Chinese are pumping billions into their clean-tech concerns, knowing full well that some of them will fail. The CDB put more than $30 billion in credit into its burgeoning solar companies in 2010, including Suntech Power, Trina, and Yingli. It recently announced financial commitments to ensure that its fledgling wind industry can join the ranks of GE, Vestas, and Siemens, allocating at least $15 billion in state-backed credit to China’s biggest windmill makers Sinovel Wind Group and Xinjiang Goldwind Science & Technology. And China has plans to invest some $45 billion in smart-grid companies and technologies alone over the next five years.
These investments haven’t gone unnoticed in the U.S., and have been front and center in recent complaints that have claimed that China’s solar industry, for example, has an unfair trade advantage.