Xiconomics: How Xi's green vision sparks hope for a sustainable world

GREEN TRANSITION DRIVE

In recent years, China, under Xi's leadership, has taken concrete steps to boost high-quality development and green transition in joint efforts with countries worldwide to build a greener future and a more sustainable world.

"We should boost technological innovation and industrial transformation through cooperation, and facilitate the free flow of quality green technologies and products," Xi said in a speech at the Leaders Meeting on Climate and the Just Transition in April.

By replacing traditional energy sources with clean alternatives, China is electrifying sustainable growth. Chinese technology innovation, integrated supply chains, competitive markets and vast domestic scale are helping many developing countries shift to greener economies powered by new and sustainable sources of energy.

In Bosnia and Herzegovina, the Ivovik Wind Power Project, the country's first renewable energy project built by Chinese companies, has been connected to the grid for nearly a year. It generates 259 million kWh annually, cutting carbon dioxide emissions by about 240,000 tonnes. Builders also painted turbine tips red to protect birds.

This shows long-term thinking, not short-term gains, said a local employee. "It offers valuable insights for the Balkans."

In Chad, where much of the population has no electricity or street lighting, change is set to take place. Solar equipment bound for Chad and Burundi has departed China under the "Africa Solar Belt" program, aiming to electrify at least 50,000 poor households.

China has emerged as a central driver of global energy transition in view of its significant strides in renewable energy and its broader commitment to transforming its energy system, said Nicholas Wagner, an energy expert with the World Economic Forum.

The International Renewable Energy Agency estimates that in the past decade, average global costs for wind power and photovoltaics have fallen by more than 60 percent and 80 percent, respectively -- with China playing a decisive role.

Jeremy Rifkin, a renowned US scholar and president of the Foundation on Economic Trends, called Xi's vision of ecological civilization a paradigm shift in how humankind views its relationship with nature.

"I know 'lucid waters and lush mountains are invaluable assets,' I love the term, I know that term very well," Rifkin said. "China will be remembered for the ecological civilization."