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Australian experts weigh in on BRI's role

By Yang Yang | | Updated: 2022-07-07 06:40
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David Olsson, national president and chairman of the Australia China Business Council. [Photo provided to]

The Australia China Business Council welcomed in March 2022 the publication of a key policy document that sets out comprehensive guidance to governments, project companies and financial institutions involved in the BRI and emphasizes cooperation on green finance, technology and standards, said David Olsson, national president of the council.

Olsson said he expects Australian companies with expertise in energy transition technologies, environmental services, smart grid management, project design, project management and green finance will continue to be active and engaged.

There is no credible emissions pathway towards limiting global warming to 1.5°C without significant movements from China over the next decade to accelerate its energy transition and decarbonisation. China, as the main finance and trade partner of many of the BRI countries, can play a key role in the green and low-carbon transition of their economies, Olsson said.

He said the ASEAN region is one region where China and Australia both have strong business engagements and it has the most potential for BRI collaboration. Australian companies have long-established presences in Hong Kong. They see potential to leverage Hong Kong's role as a major financial center and business hub to participate in BRI projects, particularly to support green economic development, in the Greater Bay Area.

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