In 2024, China continued to make significant strides in global green development through deeper cooperation in climate action, energy transition, and green technologies.
From People.cn
In 2024, China continued to make significant strides in global green development through deeper cooperation in climate action, energy transition, and green technologies.
China's network of international green industry partnerships has expanded significantly. The Financial Times reported that as Saudi Arabia"s demand for green technologies grows, Chinese exports and investments have surged into the country, broadening a relationship once dominated by oil trade. Between 2021 and October 2024, China became Saudi Arabia's largest source of greenfield investment, with a total value of $21.6 billion. Around one-third of these investments were directed toward clean technologies, including batteries, solar energy, and wind power.
In Latin America, Chinese investments are increasingly focused on sustainability. El País quoted Margaret Myers, Director of the Asia and Latin America Program at the Inter-American Dialogue, who noted that China’s investment priorities have shifted in recent years. "Chinese investments have moved away from large-scale infrastructure and oil projects to renewable energy and electric vehicle factories, particularly in sectors like batteries, solar energy, and EVs."
China has also played an active role in global climate mitigation through its South-South cooperation initiatives. According to China's Ministry of Foreign Affairs, as of November 2024, China had signed 53 Memorandums of Understanding (MoUs) on climate cooperation with 42 developing countries. Nearly 100 projects aimed at climate mitigation and adaptation have been implemented, helping least developed nations, African countries, and small island states build resilience and capacity to combat climate change.
China's partnerships with Africa have also deepened under frameworks like the Forum on China-Africa Cooperation (FOCAC), the Belt and Road Initiative (BRI), and BRICS+. Independent Online reported that these collaborations are laying a strong foundation for Africa's green economic transformation, driven by mutual benefit and shared development goals. Chinese companies have actively shared expertise and innovative green technologies, enabling African and other developing countries to advance their green transitions.