News

November 28, 2006

China New Energy Lists Its Ethanol Technology And Equipment Business On PLUS Market

By Sally White

Greed rather than fear, one suspects, is the age-old incentive for the boom in China’s “green” energy market. Shi Zhengrong, the solar energy tycoon who built Suntech Power, tops the annual survey of China’s rich just released by Hurun, the Chinese luxury business magazine. His estimated personal wealth is US$1.95 billion, although Hurun describes compilation of its list as “as much an art as a science.” Hurun now lists 14 “clean energy” multi-millionaires among its top 50, up from four last year.

Wide publicity of this fast-growing community of entrepreneurs must count for more than the myriad of government dictats. Though there are edicts from China’s National Development and Reform Commission that renewable energy MUST provide 20 per cent of the country’s needs by 2020. Pollution in China, the world’s second largest energy consumer, has made this the government’s most urgent task – clean water shortages and smogs threaten the vast and booming agriculture export business.

Officially...