(Yicai) Dec. 11 -- The United Nations Development Program will establish the Global Center for Sustainable Development in Shanghai to capitalize on opportunities generated by China’s cooperation with foreign countries, especially South-South cooperation, Xu Haoliang, UN assistant secretary-general, said to Yicai in an exclusive interview.

Shanghai was chosen because it is a pioneering city in China’s reform and opening up and a modern metropolis known for innovation, said Xu, who is also associate administrator of the UNDP. The eastern city’s strong advantages in high-tech and digital development, financial innovation and financing conditions, as well as higher education resources and research capacity, he added.

The UNDP aims to build a platform that helps implement effective development solutions from China and other countries in developing nations through training, financial support, methodological guidance, and other tools, Xu said. For this purpose, the UNDP sees Shanghai as an ideal location.

Global dynamics are shifting, Xu noted. While assistance from traditional donor countries remains important, its overall volume is declining, and its relative significance is diminishing. At the same time, contributions from emerging economies and developing countries to international cooperation are rising. “We must seize this opportunity,” he said.

This year marks the 46th anniversary of the UNDP China Office. The agency has participated in China’s reform and opening up, he said, adding that cooperation between the UNDP and China is undergoing a transition. China is formulating its 15th Five-Year Plan (2026-2030), and the UNDP has also approved its Country Program for China for those years. The organization’s current priorities in China include supporting high-quality development, achieving carbon peaking and carbon neutrality, and helping reduce regional development imbalances, he added.

Enterprises can also play a key role in advancing sustainable development, Xu emphasized. Sustainable development requires participation from the whole of society, and government resources alone are insufficient, he said. UNDP research shows that the more developed a country is, the smaller the share of government funding in overall development financing.

Corporate investment creates jobs, delivers services, and generates tax revenue, he said, adding that without active business participation, it is difficult to achieve high-quality development.

Editor: Emmi Laine