New York, 6 June 2022 (TDI): The UN Global Compact officially launched a new strategy to boost engagement in China. It invited people to speak up for human rights, promote decent work for all, protect the environment and fight corruption therefore it is good for business.

This new strategy accelerates the collective impact of business in China. It will increase the progress of the Sustainable Development Goals (SDGs).

China has the largest number of Fortune 500 companies. It has almost 44 million small and medium-sized enterprises (SMEs).

Chinese engagement supports the UN Global Compact Global strategy 2021-2023, however recognition of Chinese companies is important to achieve the 2030 Agenda for Sustainable Development.

Chinese stakeholders maximize the SDGs both in China as well as globally through leadership, policy, and dialogue.

Seven key areas in China’s strategy
  • Firstly, combating climate change.
  • Secondly reducing inequalities.
  • Thirdly, advancing decent work.
  • Fourth, taking collective action against corruption through the Belt and Road Initiative, it engages the private sector.
  • Fifth, strengthened South-South cooperation through China-Africa business collaboration.
  • Sixth, increasing business innovation, and last but not the least SDG partnership through China’s Global Development Initiative.

Ambassador of China, Zhang Jun, the Permanent Representative of the People’s Republic of China said: “China is ready to cooperate with the UN Global Compact.

United Nations Resident Coordinator, Siddharth Chatterjee, said “China is an important market for growth and innovation.”

Approximately 750 million people are out of absolute poverty. So this problem must be considered while making new strategies and partnerships.

The success of the Sustainable Development Goals globally is success for all of humanity. The United Nations’ new China strategy to help businesses in China.

This initiative was taken during the UN Global Compact Leaders Summit which was held on Wednesday and Thursday, last week. This summit has engaged world leaders, UN leaders, heads of state,  governments, and businesses.

In the UN Global Compact, the number of Chinese participants has increased from 200 to 377 between 2018 and 2020. In May 2022, the number of Chinese participants who joined the UN Global Compact was about 560.

Leave a Reply