At the "Reshaping the Energy Corridor" forum held during the 17th Annual Meeting of the New Champions, also known as the 2026 Summer Davos in Dalian, Liu Xiaoming, Deputy Party Secretary and Governor of Hainan Province, delivered a speech.

He highlighted that, from a local government's perspective, the energy transition in developing countries is encountering significant obstacles, extending beyond the commonly cited issues of infrastructure and financing.

He pointed out that the global energy landscape is undergoing a profound realignment, driven by both geopolitical tensions and the push for a low-carbon future.

On the technological front, Liu noted that most developing nations have yet to establish a localized industrial system for new energy technologies.

He explained that critical equipment for wind power, energy storage, and hydrogen production through electrolysis is largely dependent on imports, leading to persistently high construction, operation, and maintenance costs, which undermines energy security.

Regarding standards and international rules, Liu stated that frameworks for carbon standards, green certificates, and sustainable fuel certifications are predominantly shaped and led by established market players, often tailored to their own industrial strengths.

This situation, he argued, results in a lack of mutual recognition channels for green products from developing countries, creating substantial green trade barriers for their exports.

Liu also specifically mentioned that during the green transition, some regions have reverted to coal-fired power generation due to energy security concerns, creating a contradiction with previous climate commitments.

He stressed the importance of a balanced approach, cautioning against focusing on one aspect at the expense of another.

From a global governance standpoint, he emphasized the necessity to holistically consider multiple factors including technology, regulations, security, and the transition process itself.