The release of data that suggests China’s economy expanded 11.5% fueled fears of inflation. The current sentiment for Chin’a economic growth is strong. Lending practices in China are tightening.
The rebounding trend reminds the China watchers of the last inflation making situation. China is considering an interest rate hike. The overall Chinese economic expansion for 2010 is pegged at 9.5%.
China may consider an inflation rate of 3% to allow the yaun to appreciate.
China announced the creation of the National Energy Commission to oversee government energy policy. Energy is a top priority now. China’s domestic demand for electricity rises 15% per year. China will need to add nine times as many power generating facilities as the U.S. will.
China now leads the world in solar panel manufacturing, taking that spot two years ago. China now leads the world in wind turbine manufacturing. The U.S. is offering incentives for more energy production. China is moving fast with the market and the increase in wind turbine production has not been sen before according to Vestas China. Renewable energy jobs are increasing in China by 100,000 per year. China seeks to become the world’s leading exporter of energy equipment. Banks in China are offering generous financing to help companies improve the power grid.
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