The Boao Forum for Asia (BFA) Annual Conference 2024, currently taking place in Boao, Hainan Province, China, has become a platform for discussing the country’s advancements in green and digital innovation, seen as pivotal for fostering new quality productive forces and promoting high-quality development.
Government officials, entrepreneurs, and scholars convened at a sideline forum during the conference, highlighting the significance of China’s innovation drive in reshaping productivity paradigms and propelling high-quality growth. New quality productive forces denote advanced productivity liberated from traditional economic models, emphasizing high technology, efficiency, and quality, in line with China’s new development philosophy.
China Energy Engineering Corporation Limited, a prominent participant in the BFA, reiterated its commitment to innovation and sustainability. Chairman Song Hailiang emphasized that innovation serves as the cornerstone for driving new quality productive forces and propelling China’s high-quality development. The company disclosed substantial investments, totaling nearly 13 billion yuan in 2023, allocated towards research and development across various sectors, including power supply, new energy, and hydrogen energy.
Similar sentiments were echoed by Liu Yong, Chairman of DAS Solar, emphasizing the pivotal role of innovation in fostering core competitiveness. DAS Solar showcased its innovative strides in the photovoltaic industry, including the establishment of fully intelligent and digital factories.
China’s transportation sector also embraced innovation as a catalyst for growth. Vice Minister of Transport, Li Yang, highlighted China’s achievements in building world-class transportation infrastructure, attributing its success to technological advancements.
Amid China’s commitment to green transition, discussions at the forum underscored the importance of technological innovation in achieving dual carbon goals. Gao Xiang, an academician at the Chinese Academy of Engineering, emphasized the transformative role of new technologies in driving energy transition and fostering high-quality development.
China’s efforts in high-quality development were commended by Zafar Uddin Mahmood, policy advisor to the Secretary General of BFA. Mahmood highlighted China’s contributions to global partnerships, particularly under the Belt and Road Initiative, where Chinese companies have played a significant role in developing energy and transportation sectors in partner countries.
Chinese companies, including China Energy Engineering, have actively engaged in international cooperation, sharing expertise and fostering industry development worldwide. Last year alone, China Energy Engineering secured overseas contracts exceeding 280 billion yuan, underscoring its commitment to global collaboration and sustainable development.