China advances RMB internationalization

By Qiu Haifeng

The Chinese currency Renminbi (RMB), or the yuan, has been increasingly used as international currency in recent years, gaining popularity as a payment, investment, and reserve currency in the global market.

As China’s economy recovers and its financial market further opens up, the yuan’s investment and hedging functions have strengthened.

Panda bonds, or yuan-denominated debts sold by foreign issuers in China, have been well-received.

According to the 2023 Yuan Internationalization Report released by the People’s Bank of China (PBOC), China’s central bank, 58 panda bonds were issued from January to August 2023, totaling 106 billion yuan ($14.79 billion). This represents a year-on-year increase of 58.2 percent, surpassing the total number and amount of issuances from the previous year.

The macro-prudential management bureau of the PBOC announced on November 9 that various channels for mutual stock market access, such as the Shanghai-Hong Kong Stock Connect, the Shenzhen-Hong Kong Stock Connect, mutual recognition of funds, Bond Connect, the Shanghai-London Stock Connect, and the Cross-boundary Wealth Management Connect, have been opened and optimized.

The policy framework for supervising qualified investors has been consistently enhanced and it has become easier for foreign entities to issue panda bonds. Additionally, Chinese stocks and bonds have been incorporated into major international indices. These developments have collectively contributed to an enhanced investment and financing environment for the yuan.

As of the end of September 2023, a total of 1,110 foreign institutions had entered the Chinese bond market, holding 3.3 trillion yuan in Chinese bonds, an increase of nearly 200 percent compared to five years ago. Domestic RMB financial assets held by overseas entities, including stocks and bonds, had reached 9.3 trillion yuan.

As foreign institutions continue to expand their presence in the domestic bond market, offshore yuan trading has also witnessed a surge in activity.

In late October, two yuan clearing banks were inaugurated, including one in Islamabad, Pakistan, which marked the official launch of yuan clearing services in the country. Additionally, the Industrial and Commercial Bank of China (ICBC) Vientiane Branch in Laos held a ceremony to commence yuan clearing services. This development increased the number of yuan clearing banks established by China in Southeast Asia to five.

“The yuan is assuming a growing significance in the global economy and financial markets,” stated Jameel Ahmad, governor of the State Bank of Pakistan. The establishment of a yuan clearing bank will help reduce costs for local banking systems and support Pakistani businesses in exploring new markets, thereby contributing to the long-term development of the Pakistani economy and banking system, Ahmad added.

Since 2022, China has established yuan clearing banks in Laos, Kazakhstan, Pakistan, and Brazil. It has continuously enhanced the overseas yuan clearing network, resulting in smoother cross-border transactions for trade and investment. Presently, the PBOC has authorized 31 yuan clearing banks in 29 countries and regions, encompassing significant international financial centers globally.

“Since last year, the connectivity and cooperation between domestic and foreign financial markets have strengthened, resulting in a broader selection of offshore yuan products and enhanced facilitation and liberalization of cross-border investments,” stated a representative from the PBOC.

According to a survey by the Bank for International Settlements (BIS), the yuan’s market share in global foreign exchange transactions has surged from 4.3 percent to 7 percent in the past three years. This has resulted in a rise in its ranking from the eighth place to the fifth.

This growth has made the yuan the currency with the fastest-growing market share, as offshore entities increasingly adopt it for foreign exchange and risk management purposes.

Multiple sectors have shown optimism regarding the future prospects of the yuan’s internationalization.

Argentina has announced its plan to use the equivalent value of yuan under the China-Argentina currency swap agreement to repay its external debt and interest owed to the International Monetary Fund. This decision comes after Argentina’s previous use of the yuan to repay matured external debt at the end of June.

In July 2023, the Bolivian government announced that the state-owned bank Banco Unión has started trading operations involving the yuan. Marcelo Montenegro, Bolivian Minister of Economy and Public Finance, stated that the yuan trading operations have gotten off to a good start in the country. Montenegro highlighted the potential for increased utilization of the yuan within the framework of the Belt and Road Initiative (BRI).

“More countries are now participating in yuan transactions, and the internationalization of the currency is advancing rapidly,” Montenegro expressed. He further stated that the yuan is expected to play a more significant role in future international trade activities.

More companies have expressed their confidence in the yuan. The PBOC recently released the Market Survey on the International Use of the RMB in 2022.

The survey, conducted among over 3,600 domestic and foreign commercial enterprises, found that around 82.8 percent of the companies are considering using the yuan in cross-border transactions or increasing its usage. This represents the highest level in recent years. Additionally, 71.8 percent of the foreign commercial enterprises surveyed expressed a preference for using the yuan as the currency for trade financing with China, marking the highest intention in the past three years.

Action Alliance Holds Emergency NEC Meeting On Kogi Guber Poll

….Explains decision not to challenge outcome of poll at tribunal

The Action Alliance has distanced itself from a suit filed at the Kogi State Governorship Election Petition challenging the outcome of the November 11th poll. 

Speaking at a press conference on Monday in Abuja, its national chairman, Hon (Dr) Adekunle Rufai Omoaje said the party is not interested in pursuing a case against Governor-elect, Alhaji Usman Ododo. 

Omoaje said after emerging as the candidate, Olayinka Ibrahimoh operated without carrying the party along and his decision to head to the judiciary is not supported by the Action Alliance. 

He said as far they are concerned there’s no petition at the Tribunal.

The party said it will sanction anyone that goes into any illegal arrangements with some persons in the tribunal to plant any petition as the time permitted for such has also elapsed.

He said: “From the moment INEC published the final list of candidates for the Kogi gubernatorial election, Olayinka Ibrahimoh, our adopted candidate for that election deliberately built an edge around himself against the party, making it difficult to relate with him.

“Every overture to him from the party’s leadership to discuss his plans for the election was rebuffed with bold-faced arrogance. The Deputy National Chairman of our great party, in person of Alhaji Ibrahim Isa who led the national team to Kogi State to monitor the election, was left an orphan in Lokoja throughout his team’s stay in the state. Not even a single call was made to him all through.

“A few days ago, we heard that the party in Kogi State had approached the Governorship Elections Petition Tribunal with a petition on behalf of the party without the national leadership knowing it at all. We have come a long way in political engagements to understand the dangers involved in such isolated arrangements. We will not allow our party to be rubbished again as we witnessed in the recent past with such arrangements that isolated the national office in similar processes.

“Consequent upon the aforementioned, we are stating clearly here that our party; the Action Alliance has no hand in the matter before the Kogi State governorship election tribunal and we say unequivocally that we are not interested in the matter at all. “

Xi’s visit to Vietnam to open up new prospects for relations between two parties, two countries

By He Yin, People’s Daily

Xi Jinping, general secretary of the Communist Party of China (CPC) Central Committee and Chinese President, will pay a state visit to Vietnam from Dec. 12 to 13.

Xi’s visit is at the invitation of General Secretary of the Communist Party of Vietnam Central Committee Nguyen Phu Trong and State President of the Socialist Republic of Vietnam Vo Van Thuong.

Six years after his last Vietnam trip, Xi’s upcoming visit is bound to open up new prospects for the relations between the two parties and the two countries and make new contributions to human peace and progress.

In their respective struggles for national liberation, China and Vietnam supported each other and forged a special bond of “camaraderie and brotherhood”. The two countries’ traditional friendship has taken root as their peoples have lived in harmony over a long period. It was enhanced through their joint struggle for national independence and liberation, and continues to deepen as they pursue reform and renewal.

In recent years, the strategic guidance of Xi and Trong has added new dimensions to the traditional friendship between China and Vietnam and pushed for continuous new development of the comprehensive strategic cooperative partnership between the two countries.

After the 20th CPC National Congress last year, Xi invited Trong for a visit to China and the two leaders jointly charted the course for the China-Vietnam comprehensive strategic cooperative partnership. Since the beginning of this year, both countries have seen frequent high-level interactions, close exchanges between various departments and regions, and deeper cooperation in various fields, which have brought tangible benefits to the two peoples.

China and Vietnam are both advancing their own socialist modernization cause, both regard the bilateral relationship as a priority in their respective foreign policy, and both see each other’s development as opportunities for their own development.

Both countries are committed to a people-centered development philosophy, and are pursuing a path to prosperity and strength in line with their own national conditions. The two countries fully leverage their strengths in geographical proximity and industrial complementarity, advance the synergy between the Belt and Road Initiative and the “Two Corridors and One Economic Circle” plan, promote cooperation in strategic areas like connectivity and deepen collaboration in emerging sectors such as e-commerce.

During Xi’s upcoming visit, the two sides will discuss upgrading the China-Vietnam relations, focus on six major areas including politics, security, practical cooperation, public support, multilateral affairs and maritime issues, and work to deepen and substantiate the comprehensive strategic cooperation between the two countries. This will help both countries to jointly follow their modernization paths with respective features, enrich the paths to modernization for developing countries and bring more benefits to the two peoples.

China and Vietnam have the same social system and shared ideals and beliefs, and the bilateral relationship should be at the forefront compared to other countries.

Given the volatile international environment and tasks of reform, development and stability in the two countries, China and Vietnam should persevere in realizing their goals, ideals and missions for the people’s happiness and human progress, and continue to view and develop bilateral relations from a strategic and long-term perspective. Both countries should follow the policy of long-term stability, forward-thinking, good neighborliness and comprehensive cooperation, and the spirit of being good neighbors, friends, comrades and partners, so as to ensure the steady and sustained growth of bilateral relations in the new era.

The two sides should uphold the important position of the people in friendly exchanges, and inherit and carry forward the China-Vietnam traditional friendship. Both sides should, with a future-oriented perspective, make consistent efforts to promote mutual acquaintance, understanding and affinity among young people of the two countries.

As a Chinese saying goes, neighbors wish each other well, just as loved ones do to each other. The basic policy of China’s neighborhood diplomacy is to pursue friendship and partnership with its neighbors, and to build an amicable, secure and prosperous neighborhood, highlighting the principle of amity, sincerity, mutual benefit and inclusiveness.

China continues to regard the Association of Southeast Asian Nations (ASEAN) as a priority in its neighborhood diplomacy and a key region for high-quality Belt and Road cooperation, attaches importance to the position and role of Vietnam in ASEAN, and expects to work with Vietnam to accelerate the building of a peaceful, safe and secure, prosperous, beautiful and amicable home, and advance regional economic integration in East Asia.

China and Vietnam strengthen communication and cooperation in multilateral affairs, support each other on issues involving respective core interests and major concerns, jointly uphold multilateralism and international fairness and justice, and follow the basic norms governing international relations. This is of great significance for maintaining regional and world peace and stability and promoting common development.

The traditional friendship between China and Vietnam is a precious common treasure shared by the two peoples. Inheriting the past and ushering in the future, the two countries should stay true to the original aspiration of carrying forward traditional friendship, bear in mind the shared ideals and mission, continue to add new dimensions to their comprehensive strategic cooperative partnership, and inject new impetus into the development of relations between the two parties and countries as well as their socialist causes.

KOGI: International, Local Observers Laud INEC Over Free, Transparent Guber Poll

…Attributes Pockets Of Violence In Idah, Dekina, Ankpa, Others To SDP

The Independent Observer Mission in Kogi State Gubernatorial has scored the Independent National Electoral Commission (INEC) high over the conduct of the November 11th exercise.  

In its report made public today, the observers described the election that produced Alhaji Usman Ododo of the All Progressives Congress (APC) as transparent, free, and fair. 

In the 20-page document presented by its leader, Princess Ajibola, the observers said the exercise was generally peaceful with high security presence and voter turnout across the state. 

Giving a breakdown in each local government area, the observers, however, admitted that pockets of violence were experienced in Idah, Dekina, Ankpa, and three others. 

The group blamed the Social Democratic Party for the slight breakdown of law and other as well as other hitches experienced in these areas. 

“The November gubernatorial elections in Kogi State was generally peaceful with low incidents of violence,” the report concluded. 

“In areas where violence was experienced, the security forces brought it under control.  We observed that the election was credible and transparent.  

“The outcome of the election is a reflection of hard work and political calculations and strategy which saw the candidate of the APC Alhaji Usman Ododo emerge victorious. 

“On the day of the election, there was a massive turnout of voters in Kogi Central and Kogi East as a result of the ethnic dimension the election took.  Voters in the two senatorial zones of Kogi Central and West voted massively for the candidate of APC. 

“This gave him victory over his opponents.  The Independent Electoral Commission and the security forces must be commended for conducting one of the most peaceful and credible elections in the history of Nigeria’s elections.  

“It is on record that Kogi State recorded the lowest case of electoral violence in the off-cycle election among three states where the election was conducted with 14 incidents.  “

Food Allowance: NCoS CG, Haliru Nababa’s Statement Taken Out Of Context- CSO reacts

A civil society group, Network of Concerned Citizens, has reacted to the statement made by the Comptroller-General of the Nigerian Correctional Service, Haliru Nababa on feeding allowance for security dogs and prison inmates.

Recall the CG had on Thursday, responding to a question from Oshiomhole during a joint hearing of the national assembly committee on interior, stated that the the total number of inmates in 2023 is 81,354 nationwide while 53,352 are awaiting trial, and that each inmate are fed with N750 daily and they are fed three times daily (N250 for each meal), while there are 900 security dogs and to feed a dog each day is about N800. This statement has raised so much dust from different persons, including Oshiomhole, the senate committee chairman.

In a statement signed and made available to newsmen today, the executive director, Amb. Kanjal Awal, the group disclosed that within its own discretion, the statement made by the CG, was taken out of malicious context for media clickbaits and to discredit the excellent service of the leadership of the NCoS.

It reads: ” As concerned citizens of this great nation, issues of national interest should be treated and addressed accordingly and appropriately free from bias. We have read and checked the statement of the Comptroller-General, Nigeria Correctional Service, Haliru Nababa, and we do not get the noise and eyebrows it has raised so far.

“The statement, “We feed each inmate with N750 daily, and they are fed three times daily (N250 for each meal). We have 900 security dogs, and to feed a dog each day, we spend N800.”, wasnt meant to put premium to animals than humans but that statement was to buttress the CGs’ concerns on the need to increase the feeding allowances of inmates which according to him, his request to the minister of interior for upward review of the amount to 3,000 per day is yet to be granted.

“It is beyond weird and unthinkable, that a clear statement from a committed public steward, is misconstrued by the media and men with so much wealth of knowledge. Let us reiterate that the CG has a right to make statement but however the statement is taken or manipulated for the self-aggrandizement and malicious intent of the publishers and major for clicks, views and perhaps monetization and to marr/ tarnish images, which we do not understand why, is not and can never be the CGs’ fault to bear.

“Even if the CG, meant it in the context it was taken or reported, taking care of animals is quite more expensive than humans because of their constant need for medications and other care considering the level of job they perform or task required of them. That aside, as watchdogs of the society, we are privy to the astute activeness of CG, Haliru Nababa and his commitment to the service, we know that he is keen to humanity and will never place value on dogs over humans.

“Let us mention, that in the process of this statement, the CG, also stated that they have made provision for the feeding of inmates, dogs and staff on training in six training institutions across the country and the money is grossly inadequate. The main stream media in their reportage didn’t take it from that angle, but took it from an angle capable of creating a scene and raising eyebrows without minding the negative impact it leaves on the person involved.

“We understand that the senate committee chairman, Adams Oshiomhole isn’t so pleased with the fact that dogs get 800, while Inmates receives 750, but like he said, this is a major Policy Issue and no one knows the intention of government to appropriate money to feed animals than to feed human beings. Hence, we are advising that instead of trying to blame issues on people, solutions should be panned to solve them.

“The half way narratives from these medium, goes to show the loopholes in credible journalism, they have the chance as respected news outlets to contact the CG for a balanced perspective in other to go beyond the clichés and name-calling and excavate richer, deeper truths, at a time of profound division. At this point, i think with all this misconstrued art of reportage, value is constantly placed in the ancient power of storytelling, because it feels like we have all reached our collective limitations.

“The CG, Haliru Nababa is a performing public steward and should not be rewarded with such controversies that could affect his mental health and his image.” The statement added.

Police invasion : PDP alleges plot to seal up Nasarawa secretariat

**denies importation of foreign bodies in Nasarawa

**Calls on Gov. Sule to toe the part of peace

AHEAD of the supreme court judgement, the Opposition People’s Democratic party PDP in Nasarawa state Friday alleged that it has uncover plot to seal the state secretariat of the party.

Chairman of the party, Francis Orogu told journalists that there have been consistent move by the governor Abdullahi Sule administration to invoke his powers on the party members following a sustained prayer undertaking by widows, other women, youths and some Concern citizen of the state at the party secretariat in Lafia.

According to the opposition PDP Chairman, “women, mostly widows, the aged, youths and other concern citizens of the state have been sacrificing their time, resources to pray for the restoration of the stolen mandate given to our party in March 18 this year without constituting neusance.

“We are aware that a clandestine meeting was held after a meeting with the state security apparatus to perpetrate plot to shut our people out of their prayer session
to enable them carry out their nefurious activities against our party.

T”he last count was the military and now the police.” “We are aware of
a plot to parade an imposter who would confess to be from either Plateau or Nasarawa and paid 5000 to protest. This is the hallmark of cheats and the same manner they used in stealing the mandate of the people”

“It is important to note that as a party, the PDP has a clear and defined process for organizing it’s activities. We have the most suitable venue in Nasarawa State to host such events which is our party secretariat, and we would never resort to renting a crow from any part of the state outside Lafia not to talk of importing people from the neighbouring states of Benue, Plateau as being alleged

Why will the government impede on the legitimate right of the people asking God peacefully in prayers for peace, justice, and restoration of their mandate in a confined environment become an issue to the governor”, Orogu questioned.

“It has come to our attention that the current administration in Nasarawa State has been involved in subjecting the citizens to a one party system in connivance with the security agencies to intimidate, harass.

” It is not only shameful for the state governor to be involved in an issue that does not affect the peace and unity or pose a threat to the state by dragging the police to our secretariat in Lafia.

“We urge governor Abdullahi Sule and his cohurts to allow peace to reign as the activities of the women and other residents of the state supporting our party in prayer have nothing incriminating to warrant the level of intimidations, harrassment they are currently receiving from the state government.

While calling for the restoration of the fragile peace in Nasarawa, Orogu noted that PDP as a responsive party guided by the law owed it a duty to maintain decorum, respect the rule of law and human dignity.

“We would like to make it clear that the purported plot to seal our party ahead of the supreme court judgement is not only undemocratic, unconstitutional but a defined character aimed at surprising the citizenry of their legitimate right.

“We urge the security forces to always define their constitutional rule of engagement rather than being used outside their assigned duties. We believe the current IGP would not be a party to the officers being used by political opponents who are unable to accept our success in the March 18th 2023 election.

China’s shipbuilding industry turns greener

By Han Xin, People’s Daily

Focusing on low-carbon and clean energy, China’s shipbuilding industry has made significant progress in the development of green vessels this year.

In the first half of the year, Hudong-Zhonghua Shipbuilding (Group) Co., Ltd. delivered a total of nine large liquefied natural gas (LNG) carriers, with new orders exceeding 20 billion yuan ($2.81 billion). Chinese shipbuilding companies now hold a 35 percent market share in the global market of large LNG carriers.

In the field of power batteries, the world’s largest pure-electric container ship, with a capacity of 700 TEUs (twenty-foot equivalent units) and built by COSCO Shipping Heavy Industry (Yangzhou) Co., Ltd., has been launched. This pure-electric vessel boasts a range of 380 kilometers.

Henan Diesel Engine Industry Co., Ltd., a subsidiary of China State Shipbuilding Corporation Limited, has successfully ignited a methanol fuel engine it independently developed. The first domestically produced methanol dual-fuel low-speed engine is expected to be launched in 2025.

Different technological pathways are driven by the same philosophy of green development. “Green ships refer to vessels that reduce pollution and greenhouse gas emissions through advanced technologies or the use of clean energy sources,” said an official with the Water Transport Bureau of the Ministry of Transport.

According to the official, green ships are environmentally friendly. They produce only a small amount of pollutant or the pollutant they emit can be effectively disposed of. Besides, they are also highly energy-efficient and often incorporate advanced technologies or clean energy sources to enhance their green performance.

As the world’s largest shipbuilder, China has been closely following the trend of green and low-carbon development in the shipbuilding industry in recent years. Thanks to the rapid development of new energy and clean energy vessels, the proportion of green vessels has steadily increased.

Currently, about 15.6 percent of newly built ships delivered from China are fueled by new energy and clean energy. Among new orders, this proportion reaches around 50 percent. With the implementation of various emission reduction measures around the world, the two figures are expected to continue expanding.

Why are the shipbuilding industry and the shipping sector turning their attention to green power?

On one hand, green vessels can effectively promote emission reduction in the shipping industry.

“Currently, over 80 percent of global trade is carried out through maritime shipping, and green and low-carbon transition has become an inevitable trend in the development of the shipping industry,” said an official with the Maritime Safety Administration of the Ministry of Transport.

In July of this year, the International Maritime Organization adopted a new strategy for reducing greenhouse gas emissions from ships, aiming to achieve net-zero emissions in international shipping sector by around 2050. The use of green alternative fuels is an important pathway to achieve emission reduction.

On the other hand, the green transformation of ships will also effectively promote the upgrading of passenger and cargo vessels.

Green vessels are an important means of transportation for passengers and goods, and their development plays a key role in accelerating the phasing out and upgrading of old ships, promoting the construction of green supporting facilities in ports, and upgrading water transportation infrastructure standards,” explained an official with.the Water Transport Bureau, Ministry of Transport.

On Oct. 11, China’s first-ever hydrogen fuel cell-powered boat, the Three Gorges Hydrogen Boat 1, completed its maiden voyage in Hubei province. It marked a breakthrough in the application of hydrogen fuel cells in inland waterway. Compared to ships powered by traditional fossil fuel, the use of hydrogen is expected to replace 103.16 tons of fuel every year and reduce carbon dioxide emissions by 343.67 tons.

The energy supply station for the Three Gorges Hydrogen Boat 1 is located at the Yangjiawan Pier downstream of the Three Gorges Project. It is the first inland dock-type hydrogen production and refueling station in China. It utilizes clean electricity generated by the Three Gorges Hydroelectric Power Station to electrolyze water and produce hydrogen. The hydrogen gas is then compressed, stored, dispensed, and supplied to hydrogen-powered vessels.

So far, more than 460 LNG-powered vessels have been operational in China’s inland rivers. Shanghai, Jiangsu, and Hubei have introduced relevant policies to encourage the development of electric ships.

The improvement of shore power systems allows more vessels to use green energy. In the first half of this year, the consumption of shore power in Shanghai, Chongqing and 9 provinces along the Yangtze River Economic Belt exceeded 50 million kilowatt-hours.

Since 2021, nearly 13,000 vessels have been retrofitted, with full coverage of shore power connection capabilities achieved for cruise ships, ro-ro cargo vessels, and container ships.

Whether it is promoting the high-quality development of the water transport industry or accelerating the construction of a green transportation system, green and low-carbon transition in the shipping industry has become an inevitable trend.

“As a major maritime shipping nation, China should seize the key window period from 2020 to 2030 to accelerate the breakthrough in core green ship technologies, and strive to become a strong maritime shipping nation, laying a solid foundation for the industrialization of green ships,” said an official with the Maritime Safety Administration of the Ministry of Transport.

China, ASEAN countries deepen clean energy cooperation

By Cao Shiyun, People’s Daily

The PVS ASEAN Photovoltaic (PV) and Storage Conference and Expo 2023 recently kicked off in Jakarta, Indonesia, with the participation of companies from Indonesia, China, Singapore, and other countries.

The event offered heads of relevant industry organizations, experts, and scholars an opportunity to discuss topics such as the current situation, policy trends, energy transition, and cooperation potential of the ASEAN PV market.

It focused on the PV and energy storage industry, showcasing innovative products and advanced technologies in this sector, including high-efficiency PV modules, portable energy storage products, and household energy storage solutions, among others. These products and technologies cover various scenarios, from daily life to large-scale PV projects in the industrial and commercial sectors.

President Director of PT Adhouse Clarion Events Toerangga Putra noted that this expo served as an important platform to comprehensively showcase the supply and industrial chains of the PV power generation and energy storage industry.

He believes that the expo will help Indonesia to promote clean energy transition and achieve sustainable economic and social development.

China Energy Engineering Group Equipment Co., Ltd. brought to the event a range of high-tech products with independent intellectual property rights, along with a new energy power generation solution.

Based on the development trend of green energy, this solution sources energy primarily from wind and PV power generation, with energy storage as a supplement and diesel generators as the final guarantee. It forms a complete power generation solution suitable for island power stations, campsite power supply, distributed PV power generation, and other application scenarios.

DAS Solar, a new energy technology company from east China’s Zhejiang province, introduced a self-developed lightweight solar panel module at the expo. This module adopts fluorine-containing high molecular transparent front panels instead of glass, which effectively solves the issues of heaviness and difficult installation associated with traditional ones.

The module also possesses excellent properties such as UV resistance, aging resistance, and fire prevention. It has attracted quite a few business representatives to discuss cooperation.

According to the latest data released by the ASEAN Center for Energy, renewable energy accounted for 14.4 percent of the total energy supply in ASEAN countries in 2021, with the installed power generation capacity accounting for 33.9 percent of the total.

From 2016 to 2021, installed solar power generation capacity in ASEAN countries increased by 53 percent. By 2025, the installed capacity of renewable energy may take 35 percent of the total installed capacity in ASEAN countries.

The rapid growth of solar power generation has significantly narrowed the gap between ASEAN countries and the set targets, said a report by the ASEAN Center for Energy.

In recent years, China and ASEAN countries have deepened their cooperation in clean energy and achieved multiple accomplishments. China has actively promoted the establishment of the China-ASEAN Clean Energy Cooperation Center, to facilitate the sharing of clean energy technologies, strengthen financial support, and deepen regional cooperation, contributing to the energy transition and sustainable development in the region.

In early November this year, the Cirata floating solar plant in Indonesia, the largest floating solar plant in Southeast Asia, was connected to the power grid and started running at full capacity. Constructed by a Chinese company, the plant is expected to provide clean electricity to approximately 50,000 households.

China and Vietnam have signed a memorandum of understanding on power and renewable energy cooperation. The cooperation between China and Thailand in the renewable energy sector, including wind power and PV power generation, has also achieved positive results.

Secretary-General of ASEAN Kao Kim Hourn said that key areas of cooperation between ASEAN and China include offshore wind energy, hydropower, power connectivity, and green transportation. He hoped that both sides would take further actions to jointly promote the green and low-carbon transformation of energy, thereby fostering economic and social development for both parties.downLoad-20231206234234

China contributes wisdom, strength to global climate governance

By Guan Kejiang, Ren Haoyu, People’s Daily

The 28th session of the Conference of the Parties (COP28) to the United Nations Framework Convention on Climate Change kicked off in Dubai, the United Arab Emirates.

Themed “Unite. Act. Deliver,” the COP28 will see the first-ever global stocktake of the Paris Agreement. All participating parties are looking forward to making progress on multiple important issues.

China has acted as an important participant, contributor and leader in global ecological progress. Its philosophy and achievements in ecological civilization construction have attracted great attention.

Participants in the COP28 told People’s Daily that they expect China to continue playing a leading role and contribute its wisdom and strength together with all parties to building a fair and rational global climate governance system for win-win results.

The United Nations Framework Convention on Climate Change Secretariat pointed out that the conference takes place in what is already known to be the hottest year ever recorded in human history and is a decisive moment to act on climate commitments and prevent the worst impacts of climate change.

On Dec. 1, over 130 countries signed a declaration on food, agriculture, and climate action, aiming to address global greenhouse gas emissions while safeguarding the lives and livelihoods of farmers in regions most affected by climate change.

On Dec. 2, China, the United States and the United Arab Emirates jointly hosted a summit on methane and non-carbon dioxide (CO2) greenhouse gases. China’s special envoy for climate change Xie Zhenhua and U.S. Special Presidential Envoy for Climate John Kerry had discussions on the implementation of the Sunnylands Statement on Enhancing Cooperation to Address the Climate Crisis, methane emissions control, international cooperation and other important issues.

Dubai is hosting COP28 in its Expo City, and there are two main sites for the events – the Blue Zone and the Green Zone. The Blue Zone is open to accredited delegates and it hosts formal and informal negotiations. The Green Zone is open to the public and offers a platform for non-accredited delegates from different groups to exhibit and exchange ideas.

China’s pavilion at the COP28, located in the Blue Zone, was officially inaugurated on Nov. 30. It has attracted many visitors with a climate action animation exhibition with the theme of low-carbon development, a green energy demonstration sand table showcasing everything from green electricity to chemical production, and models of new energy vehicles. The pavilion will host a series of side events and activities in nine thematic days. 

Over 100 activities will be organized by Chinese government agencies, research institutions, industry associations, businesses, and non-governmental organizations, focusing on China’s actions and international cooperation in addressing climate change, green and low-carbon development, coordinated pollution and carbon reduction, just transition and sustainable development, energy transition, digital development, and green finance.

China has made tremendous achievements in ecological civilization construction, said Erik Solheim, former UN under-secretary-general and Senior Advisor to the World Resources Institute. He noted that he had visited various regions in China, where he witnessed environmental improvement, as well as the increasing sense of gain and fulfillment of the people.

Fred Krupp, president of the Environmental Defense Fund, said that the Fund has been collaborating with relevant departments in China for over 20 years, and witnessed China’s achievements in environmental protection, carbon emissions trading markets, and community green spaces.

The United States and China share extensive common interests in the field of climate change, Krupp pointed out, hoping countries around the world could make joint efforts to build a better future.

The Green Zone hosts over 600 events under 10 themes during the COP28. On Dec. 1, Chinese tech giant Tencent and Masdar City in the United Arab Emirates jointly launched a global low-carbon innovation alliance at a forum on accelerating green and low-carbon transition. The alliance was joined by over 30 institutions and companies, including the Asian Infrastructure Investment Bank, Massachusetts Institute of Technology, McKinsey, and Siemens.

At the forum, Tencent unveiled an international version of its online platform for low-carbon technology innovation TanLIVE, which was designated as the official platform for the alliance.

Xu Hao, head of Tencent’s Carbon Neutrality Lab, expressed the hope to promote deeper communication and collaboration among stakeholders in the low-carbon field, and to support Chinese low-carbon innovation enterprises in expanding overseas.

Former Vice Chairman of the UN Intergovernmental Panel on Climate Change Mohan Munasinghe stated that Chinese modernization is a path for green development. As a developing country, China has made tremendous efforts in promoting ecological civilization construction and achieved remarkable accomplishments.

China has proposed to jointly build a green Belt and Road, advocating for the building of a clean and beautiful world, which showcases its significant role in global climate governance and common development.

Xie noted that as a responsible major developing country, China has always adhered to the strategic determination of climate action. China’s economic and social development has embarked on a comprehensive green transformation track.

China will continue to make greater contributions to addressing the global climate crisis, achieving sustainable development, and building a clean and beautiful world through practical actions, as well as South-South and North-South cooperation.

To jointly build a better world

By Gong Ming, Zhang Penghui, Jiang Xiaodan, Luo Aihua, People’s Daily

Chinese President Xi Jinping sent a congratulatory letter to the 2023 Imperial Springs International Forum on Dec. 4.

Participants in the event believe that Xi’s letter profoundly expounded on the essence of multilateralism, charted the course for safeguarding and practicing true multilateralism, and injected positive energy into promoting the development of the global governance system in a more fair and reasonable direction.

Xi noted in the letter that since its establishment, the Imperial Springs International Forum has brought together people of insight from all over the world to discuss in depth many issues affecting world peace and stability, sustainable economic development, cultural exchanges and mutual learning, playing a positive role in promoting international cooperation and enhancing closer people-to-people ties.

Former Slovenian President Danilo Turk said that the purpose of the Imperial Springs International Forum is to build a platform for communication and dialogues, to address common challenges through cooperation, and to contribute to global development and security.

The world is currently facing multiple crises that test the resilience of international cooperation, said Turk, who’s also the president of the World Leadership Alliance-Club de Madrid, adding that the forum this year was dedicated to promoting dialogues and exchanges, advancing multilateralism, and injecting more momentum into world peace and development.

Former Bolivian President Jorge Quiroga said that Xi’s congratulatory letter is inspiring at the current time when global free trade and multilateralism have suffered setbacks.

He hailed the participants in the 2023 Imperial Springs International Forum who engaged in in-depth exchanges, shared their insights, and contributed their wisdom to promoting world peace and development, saying such efforts were very constructive.

Noting the crucial importance of international cooperation for promoting the development of all countries, Quiroga pointed out that the trade between Latin American countries and China has been constantly expanded over recent years.

China has been rapidly developing in areas such as new energy vehicles and electronics manufacturing, creating numerous cooperation opportunities for collaboration between Latin American countries and China in the high-tech manufacturing sector.

Next year will mark the 10th anniversary of the Forum of China and the Community of Latin American and Caribbean States. China has been actively promoting high-level opening up and negotiating free trade agreements with Latin American countries, which will open up more space for cooperation between the two sides.

The 2023 Imperial Springs International Forum was themed “Multilateralism: More Exchanges, Greater Inclusiveness and Cooperation.” Former Prime Minister of Belgium Yves Leterme said that the Imperial Springs International Forum has always upheld the spirit of sincerity, openness, and mutual respect, and the discussions on topics such as economic globalization, modernization, and multilateralism have been inspiring.

In the face of global challenges, all parties should be more determined to pursue the path of multilateralism, and improve global governance through communication and cooperation, Leterme added.

Facing unprecedented changes in the world, the times, and history, the human society must unite, uphold mutual learning, openness, inclusiveness and win-win cooperation, advocate common values of humanity, and jointly build a better world, Xi stressed in the letter.

Peter Loewen, director of the Munk School of Global Affairs & Public Policy at the University of Toronto, stated that addressing current global and regional challenges requires multilateral cooperation.

He said Xi’s congratulatory letter sent a positive signal to the world. China’s commitment to true multilateralism plays a crucial role in global affairs, and it can be said that any multilateral cooperation cannot be separated from China’s participation and contribution, Loewen added.

Wim Peeters, Consul General of Belgium in Guangzhou, said that all countries, regardless of their size, need to exchange and learn from each other, be open and inclusive, and pursue win-win cooperation.

Peeters said that China has played an unparalleled role in promoting global solidarity and cooperation. For instance, China has put forward a series of significant initiatives to encourage countries to coordinate actions in addressing global challenges, and to make the world more open and inclusive.

The vision of building a community with a shared future for mankind has been enshrined repeatedly in important documents of the United Nations, gaining increasing recognition internationally, Peeters added.

Former Latvian President Vaira Vike-Freiberga appreciated Xi’s emphasis on practicing true multilateralism, stating that global governance can only be effective when all parties share a common willingness.

China firmly upholds multilateralism, treats all countries equally, and promotes win-win cooperation with Belt and Road countries through the Belt and Road Initiative (BRI). She said that the Imperial Springs International Forum has become an important platform for international dialogue and exchange.

Zlatko Lagumdzija, former chairman of the Council of Ministers of Bosnia and Herzegovina, noted that dialogue, cooperation, and mutual learning are needed in today’s world, and advocating for shared values of humanity and the building of a community with a shared future for mankind was the essence of this forum.

It has become a consensus to promote the realization of the United Nations 2030 Sustainable Development Goals (SDGs), and countries should unite and strive to achieve the goals, said Lagumdzija.

The China-proposed BRI, Global Development Initiative, Global Security Initiative, and Global Civilization Initiative have continuously enhanced cooperation and interaction between China and other countries, which is beneficial for achieving the SDGs and building a community with a shared future for mankind.