CHINA has put forth an initiative that aims to foster mutually beneficial cooperation between China and ASEAN member states over emerging industries for common and sustainable development.

The initiative, titled “Initiative for Cooperation on Emerging Industries (Shenzhen Initiative),” was announced by Shenzhen Mayor Qin Weizhong at the China-ASEAN Forum on Emerging Industries that kicked off in Shenzhen yesterday, bringing together representatives from China and ASEAN member states.

The forum aims to foster cooperation over emerging industries in the face of rapid technological advancements and industrial transformations, which reshape production methods, business models, market structures, and collaborative innovation.

“Cultivating emerging industries is an important strategic choice for all countries to achieve economic and social development,” the initiative reads.

The Shenzhen Initiative outlines three key aspects for cooperation. It calls for the establishment of a regional ecosystem of innovation by improving the mechanism for cooperation in technology innovation and standards and encouraging collaboration among government agencies, enterprises, academia, chambers of commerce and associations. The initiative urges China and ASEAN to maintain unimpeded industrial and supply chains as well as their status as global public goods, jointly building an equal and more inclusive and constructive partnership for industrial and supply chains, and jointly seeking opportunities for the development of emerging industries.

It also proposes to explore cooperation in digital economy, new energy vehicles (NEV), energy electronics and other emerging industries, including developing digital platforms and cloud computing services, building smart cities, supporting collaboration among NEV enterprises, enhancing application of energy electronics, promoting clean energy transition, boosting participation of small and medium-sized enterprises, and building industrial parks for cooperation in emerging industries.

Last but not least, it calls on China and ASEAN member states to jointly explore the establishment of a China-ASEAN ministerial dialogue mechanism in the industrial sector, host forums on a regular basis, strengthen policy coordination and share development experience for common development of the manufacturing industry and the real economy, implement the United Nations 2030 Agenda for Sustainable Development, ensure that all parties benefit from development, and encourage the industrial, academic and research communities from ASEAN member states to join the Network of the Partnership on New Industrial Revolution under the Global Development Initiative.

“Make full use of the mechanism of China-ASEAN Digital Ministers’ Meeting to promote practical and mutually beneficial cooperation for win-win outcomes in the digital field,” the initiative reads.

(SD News)