China leads the world in overseas investments in new energy sources

Almaty. January 11. Silkroadnews – Report by US Institute for Energy Economics and Financial Analysis (IEEFA) shows that in 2016 China’s overseas investment in the new energy sources increased by 60% to a new record of $32 billion, the newspaper “People’s Daily” says.

The report notes that China ranks first in the world in terms of new energy sources market scale.

The IEEFA director Tim Buckley said that clean energy market experiences rapid development and “… the US is already slipping well behind China in the race to secure a larger share of the booming clean energy market”.

According to data by the International Renewable Energy Agency (IRENA) China holds 3.5 million of the 8.1 million renewable energy jobs globally, compared to less than 800 thousand in the US. France Presse agency quoted Ulf Moslener, a professor at the Frankfurt School of Finance and Management, saying that China has emerged as “the world leader on renewable energy”, with clear advantages over the US and Germany.