The Belt and Road High-level Economic Cooperation Forum and Teochew International Economic Cooperation Organization annual Conventions

A recording of these remarks can be found on YouTube and Tencent Video

Distinguished Guests,

Ladies and Gentlemen,

Greetings,

I thank the Teochew International Economic Cooperation Organization for the invitation to address the 21stConvention of the Teochew International Federation on the topic of “Advancing Global Development Initiative and Promoting Green Sustainable Development”.

I also congratulate this annual convention for its recognition of the contribution of the Teochew people to global economic development.

This year's convention is being held in Hainan, China’s largest special economic zone, an area with great potential and vitality. I pay tribute to the People's Government of Hainan Province and the people of Hainan for supporting this forum and for their efforts to uphold free trade and promote economic globalization.

Today, the global economic recovery remains fragile and uneven amid the lingering COVID-19 pandemic. The global impact of the pandemic severely reduced many components of human development, including health, income and education. We are also seeing the pace of the recovery slow substantially, with reductions in projections for both global economic growth and trade flows.

The conventional response when faced with problems like poverty, hunger and unemployment has been to grow more, expand more, build more. Economic growth, in particular, has been seen as a panacea - a one-size fits all cure for the world's social problems.

We have witnessed how this development model has been accompanied by terribly high costs, such as increased greenhouse gas emissions, biodiversity loss and pollution, leading to an environmental crisis that is undermining human well-being and destroying our ability to achieve the Sustainable Development Goals.

Now that we know we must change our development framework, how can we create a greener, more sustainable world?

We must view the pandemic as an inflection point in our thinking and planning, focusing our recovery efforts onboosting the transition to a green economy and leveraging the power of sustainable and inclusive growth. In fact, green investment can deliver stronger economic returns than traditional spending alternatives.

For example, the transition to clean energy is expected to generate 10.3 million net new jobs globally by 2030, more than offsetting the 2.7 million jobs expected to be lost in the fossil fuel sector.

Aligning our development frameworks with a low-carbon, climate-resilient future requires us to adopt innovative green sustainable technologies, promote green investment, increase employment in green sectors, forge green supply chains, and shape and advance green industry development, all of which are critical parts of global development that will allow us to protect lives and livelihoods and transition to a vibrant green and sustainable economy.

Ladies and Gentlemen,

We live in a world of profound and rapid change in which no country can stand alone. Sustainable development cannot be achieved unilaterally. The world’s interlinked threats and challenges require shared responsibility and contributions to a common vision.  

As Mr. Antonio Guterres, the United Nations Secretary-General, stated at the conclusion of COP27 in Sharm el-Sheikh, “Justice and ambition require the essential voice of civil society. The most vital energy source in the world is people power.”

Multilateral structures and institutions that accelerate sustainable development and reduce inequality are more vital than ever. We need to be coherent to leverage our rapidly advancing frontiers of knowledge and experience; Weneed to unleash the creativity of public and private investments and work together to make our globalized value chains more sustainable.

The UN in China remains committed to working with the people and Government of China to advance such efforts, share lessons learned, and collaborate in new partnerships as envisaged by the 2030 Agenda.

The vision articulated in the 17 Sustainable Development Goals is ambitious, but it can be achieved through our mutual passion, energy, and innovation.

I wish today’s event great success. Thank you.