Officials, business representatives and experts discuss global sustainable development at a round table of the Annual Conference of Financial Street Forum 2024 in Beijing on October 19, 2024. Photo: Yin Yeping/GT

Foreign business representatives who are participating in the Annual Conference of Financial Street Forum 2024 in Beijing expressed strong interest and high expectations to further embrace the booming opportunities of the green transformation in which China has been an active player on the global stage.

Abdulla Bin Sulayem, CEO at Seven Tides, a luxury real estate and hospitality developer based in Dubai, United Arab Emirates, participated in this forum for the first time, and is already enthusiastic about participating in more such events in the future.

“This forum is very important as it addressed many sustainability issues regarding sustainability, and it’s crucial for us to understand what is going on in the world's second-largest economy and where it is heading next,” Bin Sulayem said.

By strengthening cooperation with Chinese companies and technologies, “it helps us, as a developer, to reduce our business costs and contribute to global efforts to combat climate change,” Bin Sulayem said.

Commenting on China’s efforts in tackling climate change, he described China “as one of the largest innovators in creating climate solutions.”

Bin Sulayem gave the example of the Chinese electric vehicles, which he described as a demonstration of “China’s efforts and capabilities in developing one of the best cars at the best price.”

“This is what people want. If you want the world to change, you need to give them something also affordable,” the Emirati business person said.
Like Bin Sulayem, a representative with ACWA Power, a Saudi-listed company, is also holding high expectations for building stronger ties with Chinese partners in the green energy sector.

This is the second time that Lü Yunhe, executive vice president and general manager in China, ACWA Power, has participated in the forum and he was just excited for the good opportunities that the forum has constantly offered to the world business people.

The company that Lü works for is specialized in power generation, renewable energy and desalinated water production industry, and they have already established good partnerships with Chinese businesses in the field.

This forum has gathered some of the best business representatives from China and overseas to discuss new energy development. Having these group discussions will also promote the development of corresponding policies and measures at the governmental level in this field, he said.

Over the years, China's policy support in the field of new energy has promoted product technology innovation and cost reduction in the entire industry, Lü said.

Lü’s comment is not without basis. In 2023, China's investment in energy transition reached $676 billion, making it the world's largest investor in this field. Over the past decade, China has provided premium clean energy products and services to the international market, according to a white paper titled "China's Energy Transition" released by China's State Council Information Office in August. 

Through expanding opening up and cooperation, China has worked with more than 100 countries and regions on green energy projects, with a large number of signature projects involving nuclear power, hydropower, and new energy having been completed, the report said.

Commenting on China’s achievement in the green energy sector, Lü said that “It is precisely because of our cooperation with China's very competitive industrial chain that we have been so successful in 13 overseas countries.”

As a senior industry insider, Lü projected that in the foreseeable future, China’s new energy industry advantages in electric vehicles and other green economies will remain irreplaceable in many countries.