Following Beijing's repeated pledges to reduce greenhouse gas emissions, local governments have been quickening their steps to accelerate the development of new energy sectors, including wind and solar power.
Yet, most of the output from China's clean technology industries has done little to improve the lives of the Chinese people or benefit the domestic manufacturing sector.
For the most part, local governments are just putting up appearances and using Beijing's directives as cover to reap more subsidies from the government and tackle overcapacity.
Boosting the country's solar power capacity requires more production of solar panels, which will increase the demand for steel and glass and thus help manufacturers of these products burn through their growing stockpiles. Beijing's financial support of new energy product manufacturers has also sweetened the deal for local governments, many of which are more eager to snare central funding than actually put their new energy capacity into use.
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