中国VC对清洁技术的投资 VC Investment on Clean Technology in China 中国风险投资有限公司 合伙人 高级副总裁 李爱民 Aimin Li, Partner SVP, China Venture Capital LTP.

1、中国政府高度重视清洁技术产业 Chinese Government Attaches Importance to Clean Technology Industry

清洁技术----中国政府支持的重点 Clean Tech----Chinese Government Focuses on 胡锦涛主席在亚太经合组织(APEC)工商领导人峰会上曾经指出，预计“十二五”时期，中国清洁技术产业将继续快速增长。2015年清洁技术产业总产值有望超过2万亿元人民币。2011年至2015年，中国清洁技术投资将达3.1万亿元人民币，较过去五年翻一番。 In APEC CEO Summit, President Hu Jintao pointed out that China's clean technology industry will continue to grow rapidly during "Twelfth Five-Year" period. The clean technology industry output is expected to reach more than 2 trillion yuan in 2015. From 2011 to 2015, China's investment on clean technologies will reach 3.1 trillion yuan, more than doubling in the past five years.

China Has Released a few Incentive Policies on Clean Technology 中国政府相继出台了清洁技术行业优惠政策 China Has Released a few Incentive Policies on Clean Technology ◆ 财政补贴 Financial Incentive ------节能技术改造财政奖励资金管理办法 Energy Conservation Technology Transformation Financial Incentive Policy ------金太阳工程：工程补贴和上网电价补贴 Golden Sun Project： Engineering construction subsidies and feed-in tariff ◆ 税收激励 TAX Incentive

中国政府相继出台了清洁技术行业优惠政策 China Has Released a few Incentive Policies on Clean Technology ◆ 科技计划 S&T program ------国家发改委：重大产业化示范工程项目 NDRC： Major Industrialization Demonstration Projects; （Energy Conservation, Environmental Protection and so on ) ------工信部：重大科技成果转化项目 MIIT：Key S&T Achievement Transformation Project ------科技部：973计划、863计划等 MOST：973 Program, 863 Program and so on

The Objectives of Clean Energy Development 中国政府发展清洁能源的目的 The Objectives of Clean Energy Development

2、中国VC/PE对清洁技术产业的投资 China’s VC/PE Investment on Clean Technology Industry

China’s investment on Clean Energy in 2012 2012中国对清洁能源的投资 China’s investment on Clean Energy in 2012 ◆ 中国2012年清洁能源领域的投资额为677亿美元，较2011年增加20%，其 主要原因要归功于太阳能领域的推动。 In 2012, Investment on Clean Energy in China is $67.7 billion, 20% increase. The main reason is solar promotion. ◆ 绝大部分的投资来自于大型企业集团。 Almost all of the investment comes from Large enterprise groups. ------ 中节能 China Energy Conservation and Environmental Protection Group ------大唐集团 China Datang Corporation (CDT) and Datang Renewable Power ------中石油 China National Petroleum Corporation   (CNPC)

2010年中国VC对清洁技术行业投资 China’s VC on Clean Technology industry in 2010 Total VC investment on Clean Tech is $1.12 Billion, Top three: 风能 Wind Energy: $281 million，25.1% 电池与储能技术 Battery and Energy storage: $224 million, 20.0% 环保 Environmental Protection: $219 million, 19.6%

2011年中国VC对清洁技术行业投资 China’s VC on Clean Technology industry in 2011 Total VC investment on Clean Tech is $1.4 Billion, They are: 环保 Environmental Protection: $503 million, 35.9% 太阳能 Solar: $409 million, 29.2% 电池与储能技术Battery and Energy storage: $235 million, 16.8% 新材料 New Material: $112 million, 8.0% 风能 Wind Energy: $56 million, 4.0%

2011年中国清洁能源投资金额分布 Distribution about VC investment on Clean Technology in 2011

Proportion about VC Investment on Clean Technology 2007—2012 Q2 中国VC/PE清洁技术投资分布 Proportion about VC Investment on Clean Technology

2007-2012 Q2 China’s VC/PE on Clean Tech

The Reason of VC/PE Decline on Clean Energy Recently ◆ 宏观经济下滑，资本市场不景气 Macro Economy Decline, Capital Market Downturn ◆ 清洁能源产业暂时面临困境 The difficulties which clean energy industry has faced temporarily ------中国光伏企业面临美国、欧洲的双反制裁 Chinese Photovoltaic Enterprises face Anti-dumping and subsidies ------中国新能源产业刚刚起步，政策尚不配套 China’s Clean Energy Industry has just started. Relevant policies need to be further improved. ------新能源产业建设相对过剩 The construction of clean energy industry is relatively surplus ◆ 新能源投入较大 The scale of Investment on Clean Technology Project is too large.

3、未来可能的投资热点 Possible Investment Hotspots in the Near Future

美国依然以新能源和减排为主 American VC will focus on New Technology and Emission Reduction continually ◆ 新能源、可再生能源 New Energy, Renewable Energy ◆ 对于石化能源，减少碳排放 Reduce carbon emissions

节能环保依然是我国VC的投资热点 China’s VC will focus on Energy conservation and environmental protection （1）资源节约技术 Resources Conservation 节能技术及其产品 Energy Conservation 节水技术及其产品 Water Conservation （2）环保技术 Environmental Protection 固废处理 Solid Waste Disposal 水污染处理 Water pollution Disposal 环境治理和修复技术 Environment Control and Restoration （3）新材料技术 New Material （4）与页岩气相关的技术 Technology on Shale Gas

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