IIICF | Highlights of parallel forums

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By APD writer Hu Yahui

A total of 12 parallel forums were held on Friday, the second day of the 10th International Infrastructure Investment and Construction Forum (IIICF) in Macao. Below are highlights of the forums during which hot issues were discussed and insightful solutions were offered.

Parallel Forum 1: Energy Transition and International Cooperation on New Energy Power

The Forum on Energy Transition and International Cooperation on New Energy Power aims to explore the development direction of new energy and seek solutions to provide affordable green energy to developing countries and other existing problems..

Yan Zhiyong, chairman of Power Construction Corporation of China, said that burning traditional fossil energy has caused global climate change and ecological environment deterioration. The two substitutions - using non-fossil energy to replace fossil energy and terminal power consumption to replace terminal fossil consumption, are most likely effective solutions

“To achieve the ‘two substitutions’ above, we should make great efforts to develop new energy sources, especially renewable energy sources. We should especially seize the opportunity to develop mature hydropower, wind and solar power generation at present and in the future, he said.

Parallel Forum 2: Coordinated Development of Rail Transit and Metropolitan Circle

At the forum of Coordinated Development of Rail Transit and Metropolitan Circle, Chen Xiangsheng, an academician of Chinese Academy of Engineering and chief engineer of Shenzhen Metro Group, offered his proposals on the construction of Guangdong-Hong Kong-Macao Greater Bay Area.

Firstly, he noted, the transport integration in Guangdong-Hong Kong-Macao Greater Bay Area should preferentially coordinate with people's needs, land resources, urban space and environment, and after that, it is best to establish a beautiful and pleasant rail transit.

Secondly, a comprehensive transportation system based on different safety standards should be built, he said.

“There is not only rail transit, but also bus, bicycle, private car and pedestrian systems, which make up an integrated transportation system,” Chen said.

Thirdly, there is a long way to go to establish a perfect intelligent system, especially in the system of ‘one country, two systems, three tariffs’.

“However, we believe that the intelligent system will become better and better through our unremitting efforts,” he stressed.

Parallel Forum 3: Innovation and Cooperation Promote Sustainable Infrastructure under Belt Road Initiative

The forum attracted guests from China, Sweden, and international institutions, who shared their views on sustainable infrastructure and sought solutions to sustainable infrastructure development under the Belt and Road Initiative (BRI).

Long Lilian, commercial counselor at the Swedish embassy in China, said that China is Sweden's largest trading partner in Asia, with 400 Swedish companies operating business in China. Sweden is the only country to sign a memorandum of understanding with China on corporate social responsibility.

Over the past 10 years, Chinese companies have been going out and learning about sustainable development. The sustainable infrastructure under the BRI is very important to achieve the 2030 agenda of the United Nations and implement the Paris climate agreement, he said.

Parallel Forum 4: Enhancing Collaboration along Industrial Chains to Serve Quality Infrastructure Development

The forum aims to strengthen cooperation among enterprises in the infrastructure industry chain and jointly promote the high-quality development of infrastructure.

Yu Xiaohong, vice president of China International Contractors Association, said that contractors in many countries have reached a critical stage of transformation and upgrading that are cooperating with upstream and downstream enterprises in the industrial chain and will continue to carry out global infrastructure cooperation including design consultation, project financing, development and construction, equipment, operation and maintenance. Cross-border cooperation in the industrial chain jointly promotes high quality and sustainable development of infrastructure cooperation. Therefore, collaboration between upstream and downstream of industrial chains has become an important and effective way for international contractors to pool resources, accelerate transformation, upgrading and enhance their competitiveness.

Parallel Forum 5: Conference of Central Bankers, Financial Supervisors and Financiers from China and Portuguese-speaking Countries

The conference was held with the theme of how Macao plays its role as a service platform for China and Portuguese-speaking countries, which was sponsored by the Macao Financial Authority and supported by the China International Contractors Association and the Macao Trade and Investment Promotion Bureau.

Leong Vai-tac, the secretary of Economy and Finance of Macao SAR, said that as one of the four core cities in the Guangdong-Hong Kong-Macao Greater Bay Area, Macao is able to help Portuguese-speaking countries to seize the development opportunities of the Greater Bay Area and explore the mainland market by making use of its language advantage and culture communication network.

Huo Yingli, director of the Macro-prudential Administration of the People's Bank of China, noted that the economic and trade cooperation between China and Portuguese-speaking countries has achieved remarkable achievements. The trade volume of China and Portuguese-speaking countries has exceeded $150 billion. China has officially become one of the most important trade partners of Portuguese-speaking countries.

Next, we will further tap the potential of cooperation between China and Portuguese-speaking countries, give full play to Macao's role as a bond and continue to expand financial cooperation between us, Huo said.

(ASIA PACIFIC DAILY)