Rapid economic growth and market reforms have stimulated increased demand for foreign investment in advanced high-efficiency energy technologies that will help China solve its serious energy and environmental problems. American energy efficiency businesses are starting to take the China market seriously. Honeywell Inc., with sales of $250 million in China in 1994, has formed a joint venture with a China Petrochemical Corp. (Sinopec) to retrofit its oil refineries with process controls. Insulation giant Owens-Corning Fiberglass Co. intends to invest $100 million in China between 1995 and 2000. A third case is Armstrong International,which has formed a joint venture withChina's General Machinery andEngineering Corp. to improve steam system efficiency in a variety of industrial applications.