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Through renewable energy policy, China is expanding consumption of renewable energy and striving for durable economic development. Since China has abundant energy resource and its government’s determination for the policy is strong, it is possible for China to become a leading nation of Asia in renewable energy. The policy to support renewable energy businesses, especially, is a policy that simultaneously tackles problems such as reforming energy structure, reducing CO2, lacking energy resource, and environmental pollution. The policy’s main aim is to increase the consuming rate of renewable energy, obligatory purchase of power production, prime rate taxation, and support in research development etc. Through such support, China aims to increase its renewable energy rate by 15% in 2020. Because law regulation, revision, and taxation of the Chinese government’s support policy are not as polished as other leading countries, there are other methods for market expansion. The government’s accurate incentive with renewable energy that can motivate the business’ commercialization is especially important. Also, because China’s technology in renewable energy is not as developed and it depends on importation for machine parts, it is speculated that China will have a support policy for financial reform and equipment internalization that leads to ultimate technology innovation. Thus, the possibility that China’s renewable energy market will grow is very high if the Chinese government achieves accurate supportpolicies, technology innovation, and equipment investment; improvement in sun power productivity and expansion of photovoltaic power generation are especially expected. In the case of wind power development, a low-budget major wind power plant has been constructed due to the government’s increase in support and localization of major plant equipments. If the plant cost reduces and the wind power sales increase due to the expansion of the wind power plant, China, the country that has the highest potential in the field of renewable energy, can become the number three energy source in the world. There is much room for cooperation between Korea and China due to heavy demand for China’s renewable energy. Using the growth of green business as motor power, Korea is striving for a new business that includes renewable energy, such as fuel cell, wind power, photovoltaic, and clean energy etc. Korea needs to strengthen its cooperation with China in producing and consuming of renewable energy, technology innovation, government support policy, and standardization etc to secure its place as the market hegemony and expand the market itself. Considering China’s potential for further improvement, there is a need for Korea and China’s cooperation to strategically progress with collaborative research, commercialization, and market expansion in creation of renewable energy and market participation.