China's renewable energy development has stepped onto the fast track, said Shi Dinghuan, Chief Director of Chinese Renewable Energy Society at the World Solar Energy Congress 2007 held in Beijing from September 18 to 21.

Participants agreed that as oil and other fossil energy face exhaustion due to increasing demands and as increasing greenhouse gas emissions continue to warm up the globe, the development of renewable energy resources becomes a mandatory choice for China's energy strategy.

The country will adopt both policy and market tools to boost renewable energy development, said Shi. Compulsory market shares, increased government investments, fund raising in the capital market and government procurement are all among the measures the nation will take to develop a sustainable and stable renewable energy resource market and to advance the research and development of renewable energy technologies.

The nation plans to raise the ratio of renewable energy in total energy consumption to 15 percent by 2020, compared to 8 percent now, Chen said.

For more details, please read the full story in Chinese (http://jjckb.xinhuanet.com/gnyw/2007-09/19/content_66936.htm).

(China.org.cn September 19, 2007)