BUSINESS

China, EU Could Keep Clean Tech Partnership Alive in Other Countries, Economist Says

Published: May. 12, 2025 7:12 p.m. GMT+8

00:00

00:00/00:00

Listen to this article 1x

Erik Berglöf, AIIB chief economist. Photo: File photo

China and the European Union could team up to promote the green transition in other countries, as a way to continue collaborating while the political landscape is making it hard for them to work together on each other’s home turf, said Erik Berglöf, chief economist of the Asian Infrastructure Investment Bank (AIIB).

Clean energy is an area where European policy experience and Chinese technology could come together to bring changes to other parts of the world, Berglöf said during a panel discussion at the Caixin London Atlantic Dialogue on May 8.

You've accessed an article available only to subscribers

Subscribe today for just $.99.

VIEW OPTIONS

Unlock exclusive discounts with a Caixin group subscription — ideal for teams and organizations.

Subscribe to both Caixin Global and The Wall Street Journal — for the price of one.

Share this article

Open WeChat and scan the QR code

DIGEST HUB

Digest Hub

Back

Explore the story in 30 seconds

China and the EU are exploring joint green transition projects in third countries, combining European policy experience and Chinese technology, according to AIIB’s chief economist.
Past collaborations include a $1 billion credit line for Enel SpA and the Gilgel Gibe III hydropower plant in Ethiopia.
Such cooperation can help developing countries access affordable clean energy, integrate into value chains, and benefit participating companies through contracts, exports, and diversified financing.

AI generated, for reference only

Who’s Who

Asian Infrastructure Investment Bank: The Asian Infrastructure Investment Bank (AIIB) is a multilateral financial institution focused on supporting infrastructure development. In this article, its chief economist, Erik Berglöf, discusses AIIB’s interest in promoting green transitions and climate-related projects—such as funding carbon markets in Brazil—by leveraging cooperation between China, the EU, and developing countries, blending Chinese technology, European expertise, and innovative financing.

China Export & Credit Insurance Corp.: China Export & Credit Insurance Corp. is a state-owned enterprise that provides export credit insurance services. In 2016, it collaborated with Bank of China to offer up to $1 billion in credit to European power company Enel SpA. This financing supported Enel's purchase of Chinese equipment and its collaboration with Chinese companies in building renewable energy projects worldwide, highlighting China's role in supporting global clean energy development.

Bank of China Ltd.: According to the article, Bank of China Ltd., one of China’s "Big Four" state commercial lenders, partnered in 2016 with China Export & Credit Insurance Corp. to provide a credit line of up to $1 billion to European power company Enel SpA. This funding supported Enel’s purchase of Chinese equipment and collaboration with Chinese companies to build renewable energy projects worldwide.

Enel SpA: Enel SpA is a European power company mentioned in the article as a partner in China-EU clean energy cooperation. In 2016, Enel received a credit line of up to $1 billion from China Export & Credit Insurance Corp. and Bank of China to purchase Chinese equipment and collaborate with Chinese companies in building renewable energy projects worldwide.

Dongfang Electric Corp.: Dongfang Electric Corp., based in Chengdu, is a Chinese company that partnered with the Italian industrial group Salini-Impregilo (now Webuild SpA) in 2016 to build the Gilgel Gibe III hydropower plant in Ethiopia. This collaboration exemplifies China-EU cooperation in developing clean energy projects in emerging economies, as part of China’s “third-party market cooperation” program under the Belt and Road Initiative.

Webuild SpA: Webuild SpA is an Italian industrial group formerly known as Salini-Impregilo. The company partnered with Chengdu-based Dongfang Electric Corp. in 2016 to build the Gilgel Gibe III hydropower plant in Ethiopia, as part of China-EU cooperation on clean energy projects in emerging markets.

AI generated, for reference only