BEIJING, Nov. 1, 2025 /PRNewswire/ — Foreign government and business representatives praised the rapid progress of China’s green transformation and they expressed expectations for deeper cooperation with Chinese enterprises in the green sector, as the world’s second-largest economy has made strides to help cut global carbon footprint.

The remarks were made at the just-concluded Annual Conference of the Financial Street Forum (FSF) 2025, a flagship event that was held in Beijing from Monday to Thursday.

Under the theme "Global Financial Development in an Era of Innovation, Transformation and Restructuring," this year’s forum covered several key topics, including green transition enveloping all aspects of production and consumption in China, and multiple sub-forums on how to expand green transformation around the world.

At the forum, participants highlighted China’s leading role in the global green transition, which is providing fresh impetus for low-carbon development and future international cooperation.

High recognition

China is a prime actor in reshaping the world’s green endeavors, which is also key subject being discussed during the FSF, Hubertus Väth, managing director of Frankfurt Main Finance, told the Global Times.

"China has become the manufacturing hub of the world, and carbon dioxide emissions are usually linked to manufacturing… So with that, the entire drive toward carbon reduction is largely driven and dependent on what China is doing," said Väth, noting that, in this respect, he believes China has been exemplary for all – "good in the sense that you not only have the fastest industrialization progress made, but also the fastest transformation and green progress achieved in the country, which has been impressive."

In terms of green technology, China has scaled up wind, solar, batteries and electric vehicles (EV) – "which are popular in Germany and quite impressive," Väth said, who added that there is great potential for deepening cooperation between the two sides.

"China is one of the leading countries in terms of proceeding with green transition, and Indonesia is also a country with a very ambitious agenda regarding green transition and green economy," Irwansyah Mukhlis, minister counselor for political affairs at the Indonesian Embassy in Beijing, told the Global Times at the forum.

Mukhlis said that he believes that the two countries can cooperate further in this green field, including to promote EVs, renewable energy, and solar panels, to achieve a mutually beneficial result.

The praise for China’s green industrial development did not come out of the blue. This year marks the conclusion of China’s 14th Five-Year Plan period (2021-2025), which has marked the fastest phase of China’s green and low-carbon transition, the People’s Daily noted earlier.

During this period, the country has built the world’s largest and fastest-growing renewable energy system, with the share of renewable power generation capacity rising from 40 percent to around 60 percent now.

China has not only expanded its domestic capacity in green energy such as solar power and accelerated its own energy transformation, but has also exported advanced green technology to help other countries pursue green development. During the 14th Five-Year Plan period, China’s exports of wind and photovoltaic products have helped other countries reduce carbon dioxide emissions by about 4.1 billion tons, making a significant contribution to the global low-carbon transition.

For example, in Bosnia and Herzegovina, the Ivovik Wind Power Project, which was jointly developed by PowerChina and China General Technology Group, with a capacity of 84 megawatts, marks the country’s largest wind farm and is projected to cut carbon dioxide emissions by 240,000 tons annually, the Xinhua News Agency reported.

Another good example is the "Rural Solar" off-grid project developed by Chinese technology giant Huawei in Cameroon. Since Huawei signed a contract with Cameroon’s Ministry of Water Resources and Energy in 2012, nearly 500 solar power stations have been built and put into commercial operation in Cameroon, according to Xinhua. These will help reduce carbon dioxide emissions by 36,000 tons per year, which is equivalent to planting 100,000 trees.

New momentum

Behind the rapid progress of China’s green transformation and its growing contribution to the global energy transition lies the country’s thriving green finance sector – a booming field emphasized by some Chinese business representatives at the FSF 2025.

At a sub-forum on Wednesday, Cui Yong, general manager of China Everbright Group, highlighted the significance of green finance in future development. According to Cui, more than 150 countries worldwide have proposed "carbon neutrality" goals, and green finance is gradually becoming a crucial topic in international financial cooperation.

At the same time, China’s green finance development has further accelerated, making the country the world’s largest green credit market and the second largest green bond market, contributing valuable Chinese experience to global sustainable development, said Cui.

Also at the FSF 2025, Lin Jian, deputy general manager of the corporate finance department at China Merchants Bank, said that the costs of using clean energy technologies, such as solar and wind power, continue to drop, while finance, risk pricing, and incentive mechanisms, provides sustained momentum for the green transition.

By the end of the second quarter of this year, China’s outstanding green loans in domestic and foreign currencies had reached 42.4 trillion yuan ($5.9 trillion), an increase of 5.4 trillion yuan, accounting for 41.4 percent of the total loan growth in the market, Xinhua reported. These funds have been directed precisely to key areas such as energy transition and ecological protection, serving as an accelerator for green and low-carbon development, said the report.