In China, 30% of the usable land is considered contaminated, leading to over $400 billion US dollars in environmental earmarks in the 12th Five Year Plan (2010-2015). As awareness of environmental problems increases and enforcement is strengthened, there will be immense opportunities in China for companies that can help reduce pollution and mitigate the adverse environmental effects of rapid economic development.
Mr. Wen-Jei Fang shares advice for foreign companies considering entering the China market and discusses important trends in the environmental remediation. He believes that the key to success in China is to focus and develop a clear and realistic plan before entering the market, and companies that enter because "everyone else is doing so" can expect to be disappointed and frustrated by intense competition. He also emphasizes that unlike other markets in the world that grow and change organically over time, the Chinese market is still broadly subject to Government direction, and paying close attention to government policy changes and priorities will be critical for the success of any operation. He ends by discussing why soil remediation will be the largest growth driver in this industry in the mid term.