China attracted more investment for clean energy technology in the second quarter than Europe and the U.S. combined, according to Bloomberg New Energy Finance.

Financing of wind turbines, solar panels and low carbon technology in China climbed 72 percent to $11.5 billion compared with the year-earlier quarter, the group said in a statement.

U.S. investments in clean energy rose to $4.9 billion while in Europe it fell to $4.5 billion.

“China continues its extraordinary surge and Europe has suffered a setback according to our figures for asset finance in the second quarter,” various media reports quoted Michael Liebreich, chief executive of Bloomberg New Energy Finance, as saying. “Where investors are placing their bets is changing rapidly.”

China’s $586 billion stimulus program, implemented last year and still being spent, and economic growth boosted industrial output and energy demand.