China’s Role in Shaping a Fair, Equitable Global Governance System
Nestled on the Red Sea coast of northwest Saudi Arabia, Neom, a brand-new metropolis, has reached a significant milestone in its journey toward sustainable development. In June this year, it successfully completed the construction of a 1.3 GWh energy storage capacity. This project is the world’s largest energy storage venture, supported by advanced technology from China.
This state-of-the-art system integrates renewable energy from wind and solar turbines alongside facilities such as a seawater desalination plant and a waste management center, creating a fully independent energy supply system for the city.
Launched in July 2017, the city’s energy storage project is a cornerstone of Saudi Arabia’s “Vision 2030” initiative. Designed to provide Neom with 100 percent clean energy, the project, upon completion, is expected to generate up to 650,000 MWh of renewable energy annually, achieving zero carbon emissions—equivalent to reducing nearly 500,000 tonnes of CO2 emissions per year.
Saudi Arabia has set an ambitious target to increase renewable energy’s share in its national energy mix to 50 percent by 2030.
China’s Contribution to Global Sustainable Development
In recent years, China has carried out numerous green projects with other countries, bringing its expertise and experience in renewable energy to promote the green and sustainable development of the global economic governance system.
When addressing Session II of the 19th G20 Summit on Reform of the Institutions of Global Governance on Monday, Chinese President Xi Jinping stressed the significance of building a fair and equitable global governance system. He called on G20 members to improve global economic governance, global financial governance, global trade governance, and global digital governance to build an open, innovative, green, and stable world economy.
Improving Global Economic Governance
China has been a staunch promoter of free trade and globalization, standing alongside developing countries and empowering them through various initiatives such as the Belt and Road Initiative (BRI). Since its launch in 2013, over 150 countries and 30 international organizations have signed cooperation agreements with China under the BRI.
By constructing key infrastructure like railways, highways, ports, power grids, and communication networks, the BRI has significantly improved infrastructure in developing nations. It has boosted trade efficiency, facilitated industrial upgrades, generated substantial employment opportunities, and driven economic growth.
Moreover, China initiated the Asian Infrastructure Investment Bank (AIIB) as an open and inclusive platform for international financial cooperation. According to official data, since its inception, the AIIB has financed over 200 projects in more than 30 countries, with a total investment exceeding $40 billion. By providing stable, long-term funding, the AIIB has improved infrastructure, supported green energy transitions, addressed climate change in developing countries, and contributed to a fairer and more equitable global economic system.
Promoting Global Security Governance
“Global security governance is part and parcel of global governance. The G20 should support the UN and its Security Council in playing a greater role and support all efforts conducive to the peaceful settlement of crises,” President Xi said at Monday’s meeting.
He called on the G20 to de-escalate the Ukraine crisis, push all parties in the Middle East to cease fire and stop fighting, and provide support for easing the humanitarian crisis and post-war reconstruction in the region.
China has been playing a constructive role in global security governance by proposing initiatives, mediating conflicts, and promoting dialogue. For instance, in 2022, China launched the Global Security Initiative, advocating a security framework based on the UN Charter and emphasizing cooperation, sustainability, and dialogue to address traditional and emerging security challenges.
In response to the Ukraine crisis, China put forward a 12-point proposal to end the conflict, highlighting respect for sovereignty, a ceasefire, and opposition to nuclear threats. Partnering with Brazil and other Global South countries, China also launched the group of “friends for peace” to facilitate diplomatic solutions and promote dialogue.
In the Middle East, China mediated the 2023 Saudi-Iran reconciliation, helping the two restore diplomatic ties and contributing to regional stability. China’s efforts exemplify its dedication to resolving disputes through dialogue and demonstrate its commitment to long-term global peace and stability.
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How is China shaping a fair, equitable global governance system?
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