China and the United States should further business interests in the energy sector to fulfill the two countries' ambitious pledge on climate change, Washington's top commerce official said.
"Commerce is at the center of the China-U.S. economic relationship. Our attitude is simple and straightforward: We want to do more business with China and establish a bilateral economic relationship of mutual interest and respect," said U.S. Commerce Secretary Penny Pritzker at Microsoft's Beijing office.
Pritzker, together with deputy Energy Secretary Elizabeth Sherwood-Randall, is leading a mission of 24 U.S. companies on a five-day visit which began on Monday. "Smart Cities, Smart Growth" focuses on tapping cooperation on clean energy as China increases its pace of urbanization.
"Prioritizing environmental concerns could create massive economic opportunities. Environmental protection does not impede economic growth; it drives it," Pritzker said.
The countries signed a landmark agreement on climate change in November in which China vowed its carbon dioxide emissions would peak by 2030, if not earlier, and increase its non-fossil fuel share of all energy sources to about 20 percent by the same year.
The scale of China's energy needs and environmental challenge are enormous, according to Pritzker. Meeting the goal laid out in November requires China to install more than 1,000 gigawatts of clean energy capacity between now and 2030, she said.
"We want to explore opportunities for U.S. businesses to support China's major priority goal, to bring U.S. expertise to the undertaking and play a bigger role in building China's clean energy future," she added.
Pritzker also urged the two countries to address common concerns such as cyber security and intellectual property rights without creating barriers.
"Otherwise, it will be a lose-lose situation. China will lose access to cutting-edge technology and expertise from U.S. firms, while U.S. companies lose the opportunity to expand business in the world's largest clean energy market," she said.
