China Winning the Clean Energy Race
A combination of China's centralized political power and its new building projects on a massive scale have given it an advantage in clean energy markets, says Shi Zhengrong.
Business leaders in the clean energy industry were recently asked to account for China's dominance in the sector. "A big driving force is that you've got a lot of urbanization momentum, which drives all these new cities to be built," says Louis R. Chênevert, chairman and C.E.O. of United Technologies Corp. "Because you build everything new, it's easier to do it with the latest technology. And, I would say, the pressure from the government to adopt some of these latest technologies is pretty substantial."