China's Himin eyes 30 bln yuan sales in 5 yrs

China's top maker of solar water heaters, Himin Solar Energy Group, said on Friday it aimed to reach 30 billion yuan ($4.23 billion) in sales in five years.

"Our target is to reach 30 billion yuan in sales within five years," Himin's President Huang Ming, said on the sidelines of the annual Parliament meeting.

Huang said sales last year were less than 10 billion yuan, he but not elaborate.

The former oil engineer reiterated his plans to list domestically this year or 2009.

China already accounts for over three-quarters of world output of the systems, which use the sun's energy to heat water for daily use, rather than to generate electricity as better known and the more sophisticated photovoltaic (PV) cells do.

The solar heaters are the only form of renewable energy -- outside of hydroelectric power -- competitive in China without subsidies.

($=7.10 yuan)