Shanghai EMC firms triple in number from 2002
Shanghai. December 15. INTERFAX-CHINA - The number of Shanghai-based energy management contract (EMC) firms has surged from only 60 in 2002 to about 200 at present, according to statistics released by the Shanghai EMC Enterprise Federation Dec. 15.
Shanghai's EMC firms now generate more than RMB 15 billion ($2.37 billion) in annual sales revenues, according to the federation.
"As the world's largest consumer of energy, China's EMC market has massive growth potential over the next five years," an official surnamed Zhou from Shanghai Tongtian Energy Technology Corp. told Interfax.
In April 2010, the National Development and Reform Commission (NDRC), China's state economic planner, introduced plans to encourage the expansion of the sector as part of efforts to meet carbon emission and energy conservation goals.
The China Energy Conservation Association forecast last December that the country's EMC firms would number 2,500 by the end of 2015, up from 780 in 2010, and the industry's annual sales revenue would reach RMB 350 billion ($55.29 billion).
- WV
