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China and Denmark to sign deal to boost green energy

Chinese president on Danish state visit to expand trade in green technology

The Chinese President’s visit to Denmark will see a deal signed between the two countries to boost green energy developments

China and Denmark are set to sign a major deal to boost developments in green energy. Chinese President Hu Jintao is in Denmark on a visit, which is expected to focus on bilateral economic relations, including expanding trade in green technology.

During the visit, Denmark and China will sign an agreement to boost commercial ties in energy efficiency, environmental protection and sustainable urban development, according to reports.

Hu's visit is the first official state visit to Denmark by a Chinese leader since the countries established ties 62 years ago. He is accompanied by a large delegation of Chinese officials and business leaders.

The green technology agreement will be signed by Denmark's minister for trade and investment, Pia Olsen Dyhr, and her Chinese counterpart, Commerce Minister Chen Deming, the Danish foreign ministry said in a statement, according to Reuters.
 
It will establish a working group with participants from government and industry to promote trade and reduce market barriers in the green technology area, the ministry said.

"China is expected to be the world's biggest market in 2014 for sustainable energy and already today is the biggest for wind power," the foreign ministry said in a statement.
 
The Chinese government has planned to invest USD 423.75bn in sustainable energy up to 2020, with half of that going to wind power developments, the ministry said.
 
News of the China-Denmark deal comes after Danish firm Vestas announced this week it would sell a wind turbine tower factory in Denmark to Chinese group Titan Wind Energy. The sale will enable Vestas to cut costs but preserve jobs at a unit that had been slated for closure.