Jean-Sébastien Jacques: China’s ability to alleviate poverty impresses me most

By Sheng Chuyi, Yu Ling

The China Development Forum (CDF) 2019, with the theme “Greater Opening-up for Win-Win Cooperation”, kicked off in Beijing on March 23. During the event, Jean-Sébastien Jacques, CEO of Rio Tinto, said that China has greatly impressed him, especially when it comes to poverty alleviation.

Hosted by the Development Research Centre of the State Council, the CDF invited leaders of global businesses and international organizations, as well as foreign and Chinese scholars, to attend the forum to enhance exchanges and mutual trust, and to promote pragmatic cooperation and high-level dialogues.

During an exclusive interview with People’s Daily Online, Jean-Sébastien Jacques shared his views on China’s unified foreign investment law, the Belt and Road Initiative and sustainable development.

“I’m very optimistic about the future,” Jacques noted when talking about the partnership with China.

“We’ve been cooperating with China for more than one hundred years, although we have only run for 146 years. Our first shipment was a borax shipment from California to China. Our first shipment of iron ore was in 1973. Since then, we have shipped more than 2.5 billion tons of iron ore to China. Our relationship is not only about selling iron ore, copper, borax, and diamond; we are buying more and more from China. In the last ten years, we’ve bought 10 billion dollars of goods and services from China, 1.3 billion dollars last year only. It’s about enhancing the relationship to the next level,” he said.

“The all-round opening-up policy will help us move forward. I’m sure that there will be lots of opportunities for many industries.”

Jacques emphasized that the new unified foreign investment law is “a very good piece of news.” “It will attract more capital and foreign investment into China. I have no doubt there will be more opportunities in the future. We will work with the existing partnerships we have and make good use of the new policy to create wealth for the benefit of both China and Rio Tinto.”

Jacques first traveled to China 20 years ago. He was amazed by China’s new buildings, urbanization, and infrastructure construction.

“The most impressive thing to me is China’s ability to lift people out of poverty. I have never seen any nations lift so many people out of poverty as China has done,” he noted.

Jacques also believed Rio Tinto could benefit from the Belt and Road Initiative. “There are two key drivers for Rio Tinto. One is GDP growth, and the other one is trade. The Belt and Road Initiative kicks both of these boxes. It is good for Rio Tinto and the mining industry,” he said.

Rio Tinto recently released reports on climate change and sustainable development. “We want to be part of the solution. One is the quality of the product to improve energy efficiency. The other one is investing in new technologies,” he noted.

Jacques also spoke highly of China’s commitment to improve environmental protection.

“China has done a lot. I came to China four times last year, and I saw the blue sky every time.  Maybe I am lucky, but I don’t believe so. The changes have taken place already.”

“We are looking forward to a closer relationship, win-win benefits, and partnerships. Our future is positive,” Jacques concluded.

Source: People’s Daily Online

Mr. Jean-Sébastien Jacques is having interview with People’s Daily Online. (Photo: People’s Daily Online)