China is set to spend 200 billion US dollars on renewable energy over the next 15 years, and industry players are racing to grab a slice of the action, Reuters reported.   Beijing wants one tenth of its energy to come from environmentally friendly sources by 2010, as a consequence of increasingly serious air pollution and chronic environmental degradation that contribute to general discontent, criticism and poor health.   Projects will need turbines, blades and other power components, which is why General Electric Co., Vestas Wind Systems and Gamesa, as well as homegrown firms China Solar Energy Holdings Ltd. and Suntech, are expanding capacity in the country.   "Renewable energy will likely become China's next boom sector with oil at historical high prices," said Norman Ho, a fund manager at Value Partners, which has invested in Chinese wind energy components supplier Nanjing Gearbox, to Reuters.   Credit Suisse estimates the compound annual growth rate of China's wind power capacity at 39 percent in 2004-10 and 20 percent in 2010-20. "This represents a remarkable growth potential for manufacturers of wind turbines," Credit Suisse's Angello Chan said to Reuters. Beijing's new renewable energy policy, unveiled in January, aims to create a system of financial and policy support for the use of renewable energy, including preferential tariffs for fuels such as biomass.   However, a proper system of incentive and tax would takes years to be formed, said Reuters.