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August 20, 2021

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Home » Business » Energy

Green firms see growth in earnings

By Zhu Shenshen | 00:20 UTC+8 August 20, 2021 | Print Edition

The output of Shanghai’s energy-saving and emission-reduction industry hit 183 billion yuan (US$28.6 billion) in 2020, helping build Shanghai as a green city.

The industry, covering reducing energy consumption and fossil fuels, building green factories and developing green finance, generated revenue of 183.07 billion yuan, 2.71 percent up year on year, according to the Shanghai Commission of Economy and Informatization.

In 2020, total industrial energy consumption fell 1.16 percent — equal to 592,000 tons of standard coal.

By December, Shanghai had built 100 green factories with fewer emissions, established 20 green industry parks and developed 116 energy-efficient and environment-friendly products to support a citywide green ecosystem, the commission said.

A total of 55 projects received loans worth 620 million yuan in Shanghai last year, under a green finance project covering fields with a circular economy, energy saving, sewage treatment and solid waste treatment.

New-energy firms are coming to Shanghai with huge demand and a mature capital market, including the Shanghai STAR Market, a Nasdaq-like board to boost innovation

More new energy firms, such as photovoltaic, new-energy vehicles and battery and material companies, are going to float on the capital markets.

They have “core technologies and innovations,” said PatSnap, a patent data and analytics service provider.

Currently there are 12 new-energy firms listed in the STAR Market with 350 patent applications for each company on average, higher than 324 applications on average for all STAR-listed firms. Their average valid patent volume is much higher than other industries.

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