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China Briefings

Reports on China issued by Samsung Economic Research Institute

China Business Intelligence No. 153

China Business Intelligence No. 153

Samsung Economic Research Institute Beijing Office

Apr. 7, 2010

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I. Economy

To maintain the growth of its economy and industries, the Chinese government has focused its efforts on developing new energy sources. China plans to inject capital equivalent to 1.35% of its GDP into environmentally-friendly fields every year for the next 15 years and invest 4.5 trillion yuan in developing new energy sources by 2020. Compared to other types of new energy sources such as solar, water, and biomass energy, wind energy is expected to be the earliest to achieve the economy of scale. Wind power generation, especially sea, will lead the advancement of new energy sources. Also, the development of smart grids is expected to play an important role in improving the efficiency of power transmission, resolving problems in transmitting various kinds of electricity, and adjusting imbalanced supply and demand of electricity among regions.

II. Industry

The state council meeting held in January 2010 decided to pursue the convergence of telecom, broadcasting, and internet networks. Under these circumstances, China Telecom is making efforts to lead the market with the integration of the three screen strategy.

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