Hundreds of government officials, scholars and business leaders from both China and other countries shared their views on innovation for a sustainable future at the second annual Global Green Business Summit held in Shanghai Tuesday.

?Panel discussion at the second annual Global Green Business Summit held in the Shanghai World Financial Center on June 8, 2010.

Presented by Bloomberg Businessweek, Shanghai Municipal Government and China Enterprise Confederation (CEC), the one-day summit focused on major opportunities and challenges that global sustainable development faces with urbanization, a low-carbon economy and energy conservation.

"Green economy" and "innovation" were the two topics discussed most often by speakers at the summit. CEC President Wang Zhongyu said green economy is now a global trend. "The world will see increasing competition in green development and low-carbon technology. Industry technology upgrades will be highly related to low-carbon technology," said Wang.

"Energy-saving and emission reduction technologies such as solar power, clean energy buses and wastewater recycling systems were widely used at the ongoing Shanghai World Expo," said Wang. "I believe green and low-carbon technology use during the Expo will set an example for greater range of application and long-term green economy development."

Shanghai Mayor Han Zheng provided three figures to show Shanghai's achievements in upgrading industry structure and promoting energy conservation and emission reduction. From 2006 to 2009, energy consumption per unit GDP dropped by 17.1 percent. Total emission of sulfur dioxide (SO2) and chemical oxygen demand (COD) dropped by 26.1 percent and 19.9 percent, respectively.

The State Council announced on November 26, 2009 that by 2020 China is going to reduce the intensity of carbon dioxide emissions per unit of GDP by 40 to 45 percent of the level of 2005.

Xie Zhenhua, vice?minister of the National Development and Reform Commission, said that this year the central government will invest 8.83 billion yuan to promote energy conservation and emission reduction in communication, construction, energy and raw materials industries.