The US, after its recent rejoining Paris Agreement, held a virtual summit on climate change on Thursday. Chinese and other world leaders attended the discussion on potential global cooperation to address climate change.
As the world’s second-largest economy and the major driver of the world’s post-COVID economic recovery, China has long been firmly promoting global cooperation on tackling climate challenges. With its surging green industries and rapidly growing economy, China will further boost global collaboration on climate issues and make its contribution.
China has transferred its development pattern to harmonious coexistence with nature. Last September, it set out bold targets and road maps to reach carbon emissions peak by 2030 and carbon neutrality by 2060.
The State Council, China’s cabinet, has released guidelines to accelerate the development of a green and low-carbon circular economic development paradigm. Under the guidelines, China plans to further upgrade industries and speed up green development of agriculture, services, environmental protection and others industries.
A national green development fund to support the transformation and upgrading of industries has been set up, with total funds of 88.5 billion yuan ($13.6 billion).
From the manufacturing sector to the logistic system to the consumption market, China has laid out a detailed action plan to enhance its green development. It has become the largest market for electrical vehicles (EVs), and by 2025, China’s new energy vehicle sales volume is expected reach about 20 percent of the total new vehicle sales. The 1.4-billion people market has clearly become a hot land for both domestic and foreign EV makers.
Moreover, the nation also decides to gear up the green upgrade of its infrastructure and energy sector. For instance, it will increase the use of renewable energy, further boost the development of wind power and solar power.
Improving environmental laws and technology innovation systems are on the agenda as well. With such comprehensive efforts, the promising prospect of the country’s green economy is plain for all to see. And it will not only offer opportunities to domestic firms and capitals but also foreign businesses.
As China’s market continues to open to the world, it’s also a crucial chance for global players to participate in the rapidly growing of China’s green economy through cooperation on businesses, technologies, talent and others.
In addition to boosting the global cooperation from its colossal home market, China has also been gearing up efforts to promote a Green Belt & Road Initiative (BRI), which is joined by more than 140 countries and regions. China has maintained an investment of above $2 billion per year in renewable energy projects in BRI Countries.
The climate challenge requires joint efforts from all countries and regions. Unfortunately, holding a zero-sum mentality, some US-led Western anti-China forces have been relentlessly trying to vilify and hinder the development of BRI in order to suppress China’s development. Such attempts are against historical trend and will not succeed.
China’s efforts to promote global cooperation in the domestic market or through the BRI will benefit all involved economies and, ultimately, help sustainable development of the world. The US and its allies must also do their part and join China and others to combat this global challenge.