China has voluntarily contributed USD 1,000,000 to the newly established sub-fund on promoting digitalization for green transitions for APEC initiatives that support policy exchange, information sharing and capacity building aimed at promoting digitalization and innovation towards sustainable economic growth including combating climate change.
The contribution, confirmed in a memorandum of understanding signed by Lu Mei, China's APEC Senior Official and Dr Rebecca Sta Maria, executive director of the APEC Secretariat, establishes the new sub-fund and will provide additional resources for sustainable and digital economic development.
To implement the objectives on green and digital transitions as set out in the APEC Putrajaya Vision, Aotearoa Plan of Action, and Bangkok Goals on Bio-Circular-Green Economy, the new sub-fund covers priority areas including regional adoption of digital solutions and green technologies, the role of Artificial Intelligence in green transitions, fostering an enabling ecosystem that supports innovation, entrepreneurship and investment as well as promoting the nexus between sustainable growth and digital transformation.
APEC economies are striving for sustainable economic growth while leveraging the opportunities of the digital revolution. This dual approach seeks to achieve sustainable growth by integrating digital technologies.
Contributions from APEC member economies support projects that strengthen the capacity of members to tackle complex challenges, from trade issues to formulating policies for the digital economy to sustainable growth. Training, research and technical exchanges account for more than 100 projects APEC delivers each year.
China's contribution paves the way to tackle emerging challenges-ranging from facilitating digital transformation to leveraging technology for green transitions.
Dr Sta Maria acknowledged members' support for advancing APEC's digitalization efforts toward an inclusive and sustainable growth in the region.
"Digital transformation is more than a technological shift," Dr Sta Maria stated. It's a powerful enabler of sustainable growth."
"By fostering innovation, narrowing the digital divide, and integrating digital solutions across industries, we create a future where economic opportunities align seamlessly with environmental responsibility," she concluded. "APEC's collective vision drives us toward a digital economy that benefits all."
Under the Putrajaya Vision 2040, Aotearoa Plan of Action and Bangkok Goals on the Bio-Circular-Green Economy (BCG), APEC has committed to accelerating digital transformation and fostering sustainable and inclusive growth as well as addressing environmental challenges, including climate change and natural disasters. These commitments reflect APEC's comprehensive approach to addressing global challenges and fostering resilient, future-ready economies.
