China nourishes its green power. According to a Green Report published by KOTRA, green companies in China have grown so fast and their target is the global market. Especially solar batteries, wind power and eco friendly automobile businesses are the assets of China's green power.
For example, a leading wind power corporation in China, Goldwind is aiming to be fifth in the world. Goldwind has become a leader in the global market based on its size and capability, and last year, Goldwin achieved a success to stand out in the U.S. market by securing 70 percent of the wind farms in Minnesota.
BYD automobile, a Chinese automobile manufacturer based in Shenzhen also plans on oversea marketing promotion. BYD is planning to conquer the developed markets with electric autos, and Hybrid cars. On top of that BYD invented the very first Plugin Hybrid, F3DM.
The reason why China could be the next green power is because of its price competitiveness and as well as technology. Cheap and abundant labor has befriended their economy growth and their technology boosts it up. Against this backdrop, the Chinese government has increased the investment for green power. To reconstruct the domestic solar battery business that occupies 90 percent of China's exports. Thus, they abolished the "70 percent of home products mandatory policies" for improving the quality of facilities in wind power and technology transfer by overseas investment.
KOTRA, the head of Trade Research Division, Han Sunhee stressed, "The growth of China's green market may bring a chance to Korean companies. However, it could jeopardize the green power of Korea in the global market. He continued to say, "Strategy differentiations, strategic alliances with Chinese companies are what Korea needs to enter into the global market successfully and to make a mark."
