CHINA is committed to reforms that will upgrade the technological level of its economy and exploit green technologies, a senior Communist Party official said today.

National People’s Congress standing committee chairman Zhao Leiji said called on other countries to “board the express train of China’s development” and “join hands to realise world modernisation featuring peaceful development, mutually beneficial co-operation and common prosperity." 

Mr Zhao made the remarks to business people and other leaders attending the Boao Forum for Asia in the province of Hainan in the South China Sea.

Mr Zhao told the forum that China’s economy will be strong in the long term.

The government has set a goal for this year of reducing China’s energy consumption per unit of Gross Domestic Product by 2.5 per cent as part of its efforts to reduce carbon emissions and transition to a greener economy.

Mr Zhao said: “We are speeding up efforts to promote green and low-carbon economic and social development – and will strive to peak carbon dioxide emissions by 2030 and achieve carbon neutrality by 2060.” 

China’s leaders have set a challenging target of around 5 per cent economic growth this year despite sanctions imposed by the US and its allies designed to hamper the Chinese economy and boost US companies.

Mr Zhao also touched on geopolitical topics, saying: “China calls on all countries to transcend the old mentality of bloc confrontation and zero-sum games and practice genuine multilateralism to jointly build an open world economy.”