Cover of the 26th issue of China Economic Weekly in 2017
"China Economic Weekly" reporter Zhang Weijing Yao Dongqin Zhang Yan | Davos Forum live report
(This article was published in China Economic Weekly, Issue 26, 2017)
Editor: Chen Weixu
The fourth industrial revolution is being given more and more expectations and missions. People not only hope that they will bring subversive new technologies like the industrial revolutions, but also hope to take this opportunity to change the many dilemmas that human beings are currently facing, such as inequality between the emerging economies and developed countries, the poor and the rich. The huge gap between people, the serious environmental pollution brought about by economic development, and so on. Some even called the fourth industrial revolution a historic opportunity for "human self-salvation."
People are thinking: Can the fourth industrial revolution bring about a new economic globalization that is in the interest of multiple stakeholders? Can it bring about a new people-oriented new economic growth model? At the same time, with the birth of new technologies, how to ensure that it gives people more convenience, not instead of humans? How to make it truly serve social development rather than creating obstacles?
The global phenomenon and problems of "rapid change and severe inequality" are testing the resilience of countries' economic and social development and testing the wisdom and courage of the leaders of big countries.
In recent years, Chinese President Xi Jinping has creatively proposed initiatives such as inclusive economic growth and the “Belt and Road†initiative. These creative ideas and theories of President Xi Jinping provide a way of thinking and solution to solve the dilemmas of many economic and social fields currently faced by mankind, and have received high recognition and enthusiastic response from all walks of life around the world.
The 11th Summer Davos Forum, held in Dalian from June 27th to 29th, identified the theme of “Inclusive Growth in the Fourth Industrial Revolutionâ€. More than 2,000 leaders and elites from all walks of life, including political, business, and business, have conducted in-depth exchanges and discussions on why and how the fourth industrial revolution has promoted and achieved inclusive growth. In addition to the theory of inclusive growth, the forum guests also referred to the new globalization theory proposed by President Xi Jinping, including the “Belt and Road Initiativeâ€, as “inclusive globalization†to distinguish the traditional concept of globalization. It is believed that inclusive globalization can bring about a new global cooperation pattern and achieve a community of destiny on a global scale.
Photograph by Xiao Wei, Chief Photojournalist of China Economic Weekly
Chinese Premier Li Keqiang attended the opening ceremony of the forum and delivered a special speech. In his speech and during a dialogue with representatives of the business community participating in the forum, the Prime Minister introduced the major impacts and changes brought about by the new technological revolution on the Chinese economy, and the Chinese government’s initiative to open up domestically to global investors while developing its own economy. The market allows the world to share the fruits of China's reform, opening up, and economic development.
"In today's era, to promote inclusive growth, we must firmly maintain economic globalization." "China is an active practitioner of inclusive growth." "'Made in China 2025' will never close the door to 'close the door to build a car'", "China implements The 'Internet +' is global-oriented, "China will accelerate the promotion of trade facilitation", "welcome foreign companies to China to participate in mergers and acquisitions", "relaxing the restrictions on foreign-invested shares in foreign-funded areas"... Premier Li Keqiang These important signals released to the participants during the forum became the strongest voice on the Davos Forum this summer.
Many international celebrities attending the conference said: "China is showing the world a stronger ability to lead the fourth industrial revolution." "China is a practitioner and leader of inclusive growth and inclusive globalization."
China is a practitioner of inclusive growth
As they walk into the 2017 Summer Davos Forum, participants will find three doors in front of them, each reminding them of a goal to enter the venue today: Are you willing to try something new? Are you happy to share your thoughts? Are you willing to meet new people for inspiration?
In the context of the fourth industrial revolution, disruptive technologies such as artificial intelligence, biotechnology, and new materials have developed rapidly, with the accompanying signs of increasing inequality and rising globalization. The 2017 Summer Davos Forum will Leaders from all walks of life gathered in Dalian to try to reach some consensus through extensive discussions and take some precautionary actions.
"Mankind has not had more opportunities in any industrial or technological revolution in the past, but at the same time, we have also noticed that the voice of anti-globalization is on the rise." On June 27, Premier Li Keqiang was in 2017. In the opening speech of the Dalian Summer Davos Forum, the representatives of the political and business circles from around the world said.
Focusing on the theme of “inclusive growth in the fourth industrial revolutionâ€, “inclusive growth†became a hot topic throughout the forum.
Premier Li Keqiang said that this theme is highly targeted. Throughout the history of the world, every industrial revolution has promoted a great jump in social productivity and great progress in human civilization. This round of industrial revolution was born and raised in the context of economic globalization. Its speed, breadth and depth have never been seen before, and it has brought unlimited opportunities for the economic growth of all countries. But if the move is not done properly, it will also bring about inclusiveness in the growth.
How to deal with the arrival of the fourth industrial revolution and how to achieve inclusive growth, Premier Li Keqiang gave the Chinese plan at the forum.
China’s fourth industrial revolution
In fact, the trains of previous industrial revolutions have dropped a considerable number of passengers: there are still 1.3 billion people in the world, about 17% of the population cannot get electricity, and the second industrial revolution has not yet been fully realized; and it is marked by computer applications. The third industrial revolution has dropped more than half of the world's population, and 4 billion people still cannot access the Internet.
"Economic development and technological development can fully coordinate with the development of the whole society, avoid further polarization, and solve the new unemployment problem that may arise. These are the issues facing the whole society in the future." Chairman of Tsinghua Holdings Co., Ltd. Xu Jinghong, co-chairman of the 2017 Summer Davos Forum, told China Economic Weekly.
In his speech, Premier Li Keqiang said that compared with the previous industrial revolution, it is more likely to achieve inclusive growth in the new round of industrial revolution. Because the new round of industrial revolution represented by network, digitization and intelligence has not only created new supply and demand, but also greatly expanded the development space and brought more opportunities for equal participation. Almost everyone can use the Internet to more easily start a business, innovate, and create wealth.
Nowadays, farmers in remote mountainous areas of China can also quickly enter China's big cities by online shopping and express delivery within one or two days. The price is several times that of local sales.
"China is an active practitioner of inclusive growth." Premier Li Keqiang said that in recent years, in the context of the world economic downturn, the reason why the Chinese economy can maintain steady development is an inclusive increase. We thoroughly implement the development concept of innovation, coordination, green, openness and sharing, conform to the new round of industrial revolution, seize the trend of globalization and continuously expand development, embody tolerance in development strategy, and ensure tolerance in institutional mechanisms. Policy initiatives promote tolerance and embark on a path of inclusive growth that is in line with their national conditions.
In fact, if the past three industrial revolutions, China is watching or following, then the fourth industrial revolution provides China with a rare historical opportunity to lead development with innovation and achieve overtaking in corners.
China is trying to play a new role. In emerging technologies such as drones, solar power, and supercomputers, China is already at the world's leading level. High-end manufacturing has also moved from “Made in China†to “Created in Chinaâ€. Online shopping and e-commerce also have significant influence in the international arena.
PwC’s report during the 2017 Summer Davos Forum pointed out that with the help of artificial intelligence, global GDP will increase by 14% in 2030, equivalent to $15.7 trillion. China and North America are expected to be the biggest beneficiaries of artificial intelligence, with a total benefit equivalent to $10.7 trillion, accounting for nearly 70% of global growth.
The report pointed out that in the early stage of artificial intelligence development, due to the high maturity of technology and the large number of jobs can be replaced by developed technologies, the productivity growth rate in North America will be higher than that in China. However, after 10 years, China has completed a relatively slow accumulation of technology and expertise, and will begin to catch up with the United States.
"The fourth industrial revolution is coming. With its series of open innovations, China will surely become the 'waves' of a new wave of economic activities and technological innovation." Klaus Schwab, founder and executive chairman of the World Economic Forum Say.
Mass entrepreneurship and innovation - China's "secret" to lead the fourth industrial revolution
Didi Travel, Mobai, ofo... These new things generated by Internet innovation have been widely used in the 2017 Summer Davos Forum to become a bright business card that shows the powerful innovation of Chinese companies. And they are just the epitome of innovative companies emerging from the wave of “mass entrepreneurship and innovationâ€.
“China is showing the world a stronger ability to lead the fourth industrial revolution. The secret of success in this new era is 'mass entrepreneurship and innovation.'†On June 27, Schwab was at the opening ceremony of the forum. “This important economic innovation concept has shaped our future together.â€
Schwab’s “secrets†have reached consensus on a large scale. Reuters also commented that the Chinese government has explored the mature path of "double innovation", and innovation and entrepreneurship are becoming the new engine of China's economic growth.
In fact, it was at the Summer Davos Forum three years ago that Premier Li Keqiang first proposed “mass entrepreneurship and innovationâ€. At that time, Premier Li Keqiang used the old saying "Dazhi Xingbang, but collects public thoughts" to describe the long-term significance of this concept for China's economic development.
This year, Premier Li Keqiang further pointed out in his speech that China's entrepreneurial innovation has become an effective way to achieve inclusive growth because its "people" have become faster, more powerful, and stronger.
Since Premier Li Keqiang first proposed “double innovation†in 2014, China has added an average of 40,000 market entities every day. This figure surprised many foreign participants because it is almost equivalent to the total amount of small and medium-sized enterprises in many medium-sized economies.
The rise of various market entities has become the largest "accommodator" for employment. "Employment is the foundation of inclusive growth. Without adequate employment, there is no such thing as inclusive growth. Increasing income and creating social wealth will become a root cause." Premier Li Keqiang said that in the new employment in urban areas last year, new The contribution rate of kinetic energy accounts for about 70%.
“Drips serve 20 million passengers a day, and do a lot of exploration in terms of inclusive growth. In 2016, 17 million drivers received wages on the Drip platform, of which 4 million were from 'de-capacity' provinces. Plants, coal mines, etc., this is 'giving people to fish, it is better to teach people to fish.'" President of Drip, the co-chairman of the 2017 Summer Davos Forum, Liu Qing said at the forum that the sharing economy is an innovative thing, the Chinese government It is the first government in the world to legalize the car, which is a very big step. The government has played a very important role in encouraging innovation and developing a shared economy, and it has given more confidence.
The “double creation†brings about changes in China’s economic structure and quality. In 2016, the contribution rate of consumption to economic growth rose to 64.6%, becoming the main force of economic growth; the value-added of service industry increased to 51.6%, accounting for half of the country; the contribution rate of scientific and technological progress rose to 56.2%, and innovation supported the development. The effect is significantly enhanced.
"We will continue to promote structural adjustment, accelerate the transformation of old and new kinetic energy. Leading the 'double creation' to the depth, promoting large and medium-sized enterprises, scientific research institutions and social creators to innovate and cultivate new industrial clusters, we are very pleased that now Many large enterprises in China, especially giant enterprises, have opened up many 'double-creative' spaces and 'double-creative' platforms, cultivating a large number of makers, even in the highest-end aerospace field, enterprises attracting numbers through cloud platforms. Million makers participate in the innovation and development of enterprises," said Premier Li Keqiang.
In China Aerospace Science and Industry Group, the industrial Internet cloud platform, INDICS, has been on the line since June 15, 2015. The number of registered enterprises has exceeded 800,000, and the online collaboration demand has been released about 100 billion yuan. The business operation process is embedded in the cloud. There are more than 1,500 platform enterprises and more than 6,000 devices connected to the cloud platform. This is already the cloud platform with the largest number of embedded enterprises and access devices in the world.
“To promote inclusive growth, we must maintain economic globalizationâ€
During the forum, whether there was a slowdown in the globalization process caused a heated discussion among the guests. Schwab said that the world is currently facing many uncertainties. In the context of the trend of “reverse globalization†and the trend of protectionism, “we need a new story about globalization.â€
Xie Baiman, CEO and Chairman of the Royal DSM Management Committee, shared a set of data during the forum: 30% of the population feels that they have been abandoned and harmed by globalization, thus voting for the conservative parties, leading some countries to turn protectionism. He said that these protectionist policies are not a good thing for the world.
"It is impossible to develop world trade only by considering your own interests." Xie Baiman suggested that the country and the country need to find a win-win way.
Huang Yiping, a professor at the National Development Research Institute of Peking University, said in an interview with the media that the new kinetic energy of globalization must come from emerging market countries. "Globalization is facing a turning point. Globalization since World War II is dominated by Europe and the United States, and China has enjoyed openness. The rapid economic growth brought by the market, and now developing countries will play a greater role in globalization, and their benefits to growth and openness are worth looking forward to."
At the opening ceremony of the forum, Premier Li Keqiang released the "strong signal" that China will actively participate in economic globalization to the political and business people from all over the world. He said that to promote inclusive growth, we must maintain economic globalization, better adapt and guide, safeguard the authority and effectiveness of the multilateral system, promote trade and investment liberalization and facilitation, and at the same time reform and improve international economic and trade rules to ensure that countries Equality of rights, equal opportunities, and equal rules in international economic cooperation.
In the process of dialogue and exchanges with representatives of the international business community, Premier Li Keqiang once again expressed China’s determination to open up to the outside world.
Premier Li Keqiang proposed that China’s reform and opening up have always been parallel and mutually reinforcing for more than 30 years. China needs foreign capital, foreign businessmen, and foreign intelligence to participate in the process of reform. We also welcome foreign companies to come to China to participate in mergers and acquisitions. In the process of cultivating new kinetic energy, we will further reduce the barriers to entry for foreign investment in the service industry and implement negative inventory management. China gives some domestic enterprises some policy support in line with the rules of the World Trade Organization. As long as foreign-funded enterprises are registered in China, we will treat them equally.
Many representatives of the international business community expressed their hope to actively participate in the next phase of China's reforms.
In this regard, Premier Li Keqiang mentioned that the implementation of "Made in China 2025" will bring huge market opportunities to Chinese and foreign companies. "There is a misunderstanding of 'Made in China 2025', as if we have introduced these policies, the purpose is not to buy foreign equipment in the future." In this regard, Premier Li Keqiang specifically clarified, "This is impossible."
Patrice Motsaibi, founder and CEO of South Africa's African Rainbow Mining Company, said that many countries have benefited from China's economic growth and economic and trade relations with China. His question is what kind of China will take. Measures to further promote the facilitation of global trade?
Premier Li Keqiang said that the Trade Facilitation Agreement was the first multilateral trade agreement for goods that China participated in and reached after joining the World Trade Organization. In less than two years, the State Council of China passed the domestic legal procedures and approved This file.
"First, we must promote a single window, and merge many of the internal management departments into a window in the relevant management to simplify the procedures of enterprises in the process of customs clearance. Second, we must shorten the customs clearance time. This year will shorten the customs clearance time by three. One of the points, and with the most advanced customs clearance procedures, time to benchmark, and strive to reach the world's advanced level in a relatively short period of time. Third, strengthen international cooperation, especially the regulatory authorities to conduct mutual certification supervision, so that enterprises Avoid duplication of certification and reduce costs during the customs clearance process." Premier Li Keqiang stressed, "These are all technical measures, but I think the most important thing is that we must establish a clear idea that free trade is to promote the recovery of the world economy. Good medicine."
The Prime Minister renews his commitment to China to abide by the Paris Agreement
Premier Li Keqiang said that achieving inclusive growth means enhancing social equity and developing inclusiveness, that is, achieving sustainable growth.
Premier Li Keqiang stressed that when it comes to sustainable development, it is impossible to mention climate change. This is the common responsibility of the international community. China will abide by the commitments of the Paris Agreement and implement measures to deal with climate change, which is also the need for China's green development.
Since June this year, this is another important statement made by the Chinese government on this issue.
On June 1, Premier Li Keqiang visited Germany. When the Chinese and German prime ministers met with reporters together, facing questions on climate change, Premier Li Keqiang pointed out that tackling climate change is the voice and consensus of the whole world. China has been actively participating in, promoting and signing the Paris Agreement. It was one of the first countries to pass the legislative process to identify the Paris Agreement and one of the first countries to submit a climate change country programme to the United Nations. This is not only the international responsibility of China as a large developing country, but also the inherent demand of China to change its development mode. China will continue to fulfill its commitments, strive to take the road of green, low-carbon and sustainable development, and work with all countries to achieve a solid goal of achieving the 2030 sustainable development agenda.
Achieving a sustainable green development path is also a key topic of interest in this Davos Forum. With the advent of new technologies, almost all areas of economic and social life are likely to transform, and China's clean technology revolution has received worldwide attention.
On June 27, Minister of Science and Technology Wan Gang said at the seminar on the theme of "China's Clean Technology Revolution" that clean energy is bringing benefits to the world, and China will rapidly develop clean energy toward the goal of sustainable development.
Wan Gang said that after years of scientific and technological innovation, China's wind, light, water, electricity and other renewable energy development and utilization technologies have been in the forefront of the world. On the one hand, China has implemented a series of low-carbon policies for air pollution, such as advocating the construction of a unified national carbon market, implementing a dual-control mechanism for total carbon emissions and total energy consumption; on the other hand, China is also strengthening its Investment in renewable energy.
According to a report released by the US Energy Economics and Financial Analysis Institute, China's overseas new energy investment increased by 60% in 2016, reaching a record $32 billion, ranking first in the global new energy market.
Just a few days before the opening of the forum, from June 17th to 23rd, the State Grid of China was fully powered by solar power, wind power, hydropower and other clean energy sources in Qinghai for 7 consecutive days. The power grid maintained a safe and stable operation.
Shu Yinbiao, chairman of China State Grid, said at the forum that the move is the first in China and has become the world's first new record for the operation of clean energy in the grid, highlighting China's international leading level in promoting clean energy development. The sustainable and healthy development of clean energy has important demonstration significance.
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Prime Minister's Davos time
"China Economic Weekly" Chief Photojournalist Xiao Wei Davos Forum Live Photography Report
Editor: Chen Weixu
From June 27 to 29, 2017, the 11th Summer Davos Forum was held in Dalian. Chinese Premier Li Keqiang attended the opening ceremony of the forum and delivered a special speech to talk with representatives of the international business community. During the period, he was also inspected in Liaoning Province.
The Prime Minister’s three-day trip was full, and the signal of release was sufficient. It not only satisfied the urgent desire of more than 2,000 representatives from all walks of life at home and abroad to accurately understand the Chinese economy, but also made the delegates truly feel the Chinese government’s construction of an open world economy. Policy proposition to promote trade liberalization. Many international participants attending the conference said that "China is showing the world a stronger ability to lead the fourth industrial revolution" and "China is a practitioner of inclusive economic growth and inclusive globalization."
In his speech, Premier Li Keqiang said that in today's era, to promote inclusive growth, we must firmly maintain economic globalization.
After attending the opening ceremony of the forum and giving a special speech, Premier Li Keqiang answered questions from Schwab, Chairman of the World Economic Forum. Premier Li Keqiang said that he hopes that everyone can objectively view the trend of the Chinese economy. The Chinese economy will continue to maintain medium and high growth. We have a population of 1.3 billion and have huge market potential and social creativity.
On June 27th, Premier Li Keqiang attended the opening ceremony of the 2017 Summer Davos Forum and delivered a special speech.
On June 28th, Premier Li Keqiang said in a dialogue with representatives of the international business and industry circles attending the 2017 Summer Davos Forum that China gives some domestic enterprises some policy support in line with the rules of the World Trade Organization. As long as foreign-funded enterprises are registered in China, We will treat everyone equally.
State Councilor Yang Jing and Foreign Minister Wang Yi exchanged views at the opening ceremony of the forum.
Guo Shuqing, Chairman of the China Banking Regulatory Commission, and Liu Shiyu, Chairman of the China Securities Regulatory Commission, exchanged views at the opening ceremony of the forum.
Minister of Commerce Zhong Shan exchanged views with representatives of the meeting.
In answering questions from representatives of the international business community, Premier Li Keqiang said that we must establish a clear idea that free trade is a good medicine to promote the recovery of the world economy.
Representatives from all walks of life at home and abroad listened to Premier Li Keqiang's special speech at the opening ceremony of the forum.
Prime Minister's Davos time
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Ma Guoqiang, Chairman of Baowu Group: “One Belt, One Road†is an opportunity for the whole world.
"China Economic Weekly" reporter Xie Tao Davos Forum live report
Editor: Chen Weixu
Photo by Xiao Yi, chief photojournalist of China Economic Weekly
"'Belt and Road' is an opportunity for China, for the 'Belt and Road' countries, and for the world." Ma Guoqiang, Chairman of Baowu Group, said during the 2017 Summer Davos Forum that the “Belt and Road†has been incorporated into the national strategy. As a central bank, the Group is duty-bound and is accelerating and strengthening research.
In 2016, Baosteel and Wuhan Iron and Steel giants reorganized and China Baowu Iron and Steel Group was established. Not only did it achieve capacity, but it also created the Chinese version of the world's steel giant and became the “emphasis†of state-owned state-owned enterprise reform.
Ma Guoqiang believes that this reform must remove too many functions of state-owned enterprises. First, we must define the functions of state-owned enterprises. State-owned enterprises are classified into two categories: public welfare and commercial. The Baowu Group, which is in the field of full competition, is a commercial category.
"By classifying state-owned enterprises, we can encourage state-owned enterprises to do something and do something different, focus on the main business, and have standardized corporate governance and supervised and effective mechanisms like commercial companies." Ma Guoqiang said.
He introduced that Baowu Group was jointly established by Baosteel Group and Wuhan Iron and Steel Group under the background of adapting supply-side structural reform to capacity. Previously, it had undertaken many tasks such as “three for one industryâ€, hospitals and kindergartens. After the reform, the government should be handed over to the appropriate enterprises for processing. "By focusing on the main business of steel, we should remove the problem that should not be done, so that we can slim down, improve quality and efficiency, and the competitiveness will be better and better in the future."
Ma Guoqiang said that the State-owned Assets Supervision and Administration Commission of the State Council began to promote state-owned enterprises to carry out modern corporate governance in 2004. As far as Baowu Group is concerned, more than half of the external directors are from the United States, Singapore and other countries and Hong Kong. The State-owned Assets Supervision and Administration Commission of the State Council hopes to solve the problem of excessive shareholder intervention in the enterprise in this way. It seems right now, and the decision-making is efficient.
"Mixed reform is one of the solutions to the problems of state-owned enterprises. The reform of mixed ownership of state-owned enterprises is more reflected in the institutional mechanism, not in capital." Ma Guoqiang said that in fact, the mixed reforms have been in the past. Eliminate the shortcomings of state-owned enterprises through mixed reforms, such as insufficient scientific decision-making, more people, and heavy social burden. At the same time, improve efficiency, the only way to truly participate in international market competition.
Going out to participate in the construction of the “Belt and Road†is a new opportunity for the reform of state-owned enterprises.
Ma Guoqiang said that China's iron ore resources are scarce. As a steel company, it should go out in the field of mine investment, and the product market needs to go out and expand. The next step is to cooperate with advanced production capacity.
He also believes that the localization of management is necessary for state-owned enterprises to go out. The central enterprises employ foreign general managers, and market-based compensation is necessary. Once the squid effect is formed and there are precedents, it will be faster to advance other reforms.
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Zhang Xinsheng, Chairman of Shell China Group: In the Chinese market, now is our golden age
"China Economic Weekly" reporter Yao Dongqin | Davos Forum live report
Editor: Chen Weixu
Photo by Xiao Yi, chief photojournalist of China Economic Weekly
“If you see how much energy you need to consume 3D printing, you know that these new technologies are applications where energy demand is growing fast.†On June 29, Shell China Group Chairman Zhang Xinsheng accepted the site at the 2017 Summer Davos Forum. In an exclusive interview with China Economic Weekly, the previous industrial revolutions, whether they were steam engines or electricity, were closely related to energy. Energy transformation is an important component of the fourth industrial revolution. In order to meet a series of energy challenges, more innovative technologies must be developed to seek sustainable development.
“The biggest challenge for energy is the challenge of energy supply and climate change.†Zhang Xinsheng said that it is estimated that due to population growth and people's living standards, the demand for energy will double by the end of the century. How to meet the needs of human life development and the small impact on the environment is an important challenge that the energy industry needs to deal with.
“Energy is not only a growth industry, but also a technology industry. It is constantly developing new technologies to solve the challenges.†Zhang Xinsheng said.
After acquiring British Gas Group in 2016, Shell became the world's largest natural gas company. At the same time, Shell is also the international energy company that provides the most LNG to China.
As China promotes the transformation of its energy structure, the demand for clean energy such as natural gas continues to increase. Zhang Xinsheng told China Economic Weekly that Shell China’s business volume is already very large compared to other parts of the world, but there is still much room for development in the Chinese market. “Now is our golden age and the fastest time to develop.â€
Zhang Xinsheng said that the Nanhai petrochemical project jointly invested by Shell and CNOOC is currently the largest foreign investment in China. On this basis, the two sides are recently increasing their investment and doubling their past capacity to meet Chinese demand.
The Changbei project jointly developed by Shell and PetroChina is China's largest onshore gas field international cooperation project. Zhang Xinsheng said, “Now Beijing has about 30% of natural gas, which is being explored, produced and supplied in Changbei.†We hope to invest in the second phase, hoping to have more natural gas supply to Beijing, which will benefit the improvement of air quality.
At present, all of Shell's core businesses have entered China, including upstream business, natural gas integration and new energy, downstream business and project and technology business. Shell has established partnerships with major Chinese state-owned oil companies.
Zhang Xinsheng told reporters that on the one hand, Shell and Chinese companies cooperate to develop resources abroad and bring products to China. Through strong combination, we can achieve greater value and higher efficiency in many projects. On the other hand, make full use of China's existing production capacity and technology, especially in design and engineering, and bring them abroad. “Last year, the amount of equipment and engineering we purchased in China was worth more than $1 billion. This is only the first step, and there is still a lot of room behind it.â€
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Paramitian Group CEO Kentun: Myanmar needs inclusive growth brought by the “Belt and Roadâ€
"China Economic Weekly" reporter Xie Tao Davos live report
Editor: Chen Weixu
As the chief executive of the Parami Energy Group of Companies (Palami Energy), Ken Tun often comes to China, and promoting energy cooperation between China and Myanmar is his greatest hope. . He told the China Economic Weekly that although Myanmar's economic growth rate is among the best in the world, it still faces problems such as insufficient power supply. In his view, the “Belt and Road Initiative†and the AIIB mean opportunities for Myanmar, and Myanmar needs inclusive growth brought by the “Belt and Roadâ€.
“Myanmar is a country with no electricity, more than 70% of people are short of electricity, and 70% still live in rural areas.†Kentun said that at the same time, resource-rich Myanmar is also the fastest growing economy in the world. One of the things, with some political innovations, Myanmar is opening up to the world, and investment is growing, which means more electricity demand. "We don't want to build coal plants, we want to have cleaner options." Kenton bluntly said that China has become a leader in clean energy. Myanmar established the National Electrification Plan in 2014 with the goal of providing electricity to all households nationwide by 2030.
According to Kentun, Parami Energy was established in 2004, mainly for the Myanmar government and oil and gas owners, and its business covers oil and gas, electricity and other fields. Currently, the company is committed to providing energy to local communities in Myanmar, importing electricity from China and attracting direct investment. In addition, the company is establishing an independent network microgrid (village unit). In his view, in the past, the way to obtain electricity nationwide was a top-down centralized system, and now the bottom-up distributed energy is cleaner and more efficient.
However, clean energy banks are not optimistic about financing. “The world has set its sights on Myanmar, and Myanmar is opening to the outside world. However, for many businessmen, high returns seem to have become a fixed mindset.†Kenton said frankly, “I hope I can tell the world that this country not only needs Private investors, we also need development finance, we need cheaper capital and less greedy returns. As a result, project costs can be lower. Ultimately, communities and consumers can afford to consume electricity and benefit from it. The Burmese people are able to enjoy cheap electricity."
Kenton told the China Economic Weekly reporter that during the 2017 Summer Davos Forum, he was able to communicate with Shu Yinyu, the chairman of China State Grid. He was informed that China's State Grid “is doing a feasibility study†for cooperation with Myanmar.
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