China leads world in green tech

China's green tech industry raked in $63.9 billion last year, making the Asian giant the world's leading green IT producer in terms of revenue.

China's green tech industry raked in $63.9 billion last year, making the Asian giant the world's leading green IT producer in terms of revenue, according to a study released Monday.

The study, commissioned by the World Wildlife Fund for Nature (WWF), also revealed that the China ranked second only to Denmark in terms how much the green technology sector contributes to a country's gross domestic product (GDP). This market segment contributed 1.4 percent of China's GDP, compared with Denmark's 3.1 percent where the green tech industry generated revenues totaling 6.5 billion euros $11.7 billion, noted the study.

WWF economist Donald Pols notes that green IT growth in the U.S. has been substantial, at 28 percent per year, since 2008 but cannot compared with China where climate change is not an ideological issue but a fact of life. He noted that the U.S. green tech market generated revenues worth $56.7 billion and was ranked 17th worldwide in terms of the market's contribution, at just 0.3 percent, to the country's GDP.

For more on this story, read China top in green tech money on ZDNet Asia.