China plans to spend 1.5 trillion yuan (Euro147bn) in the 15 years to 2020 to increase the use of renewable energy sources. The use of energy forms including wind, solar and biomass will account for 10% of electricity supply by 2010 and 16% by 2020.

Chinese solar wafer maker ReneSola posted a 391% hike in first-quarter pre-tax profit and said it was con"dent for the full year. Strong demand for its silicon wafers has meant the company has upped its year-end production target. Its Londonlisted shares added 20p to 555p.