China has been preparing the 14th Five-Year Plan (2021-25) at a time when the COVID-19 pandemic has had a devastating impact on the world. By highlighting the interconnection among human, animal and environmental health, the pandemic provides an unexpected opportunity for the drafters of the 14th Five-Year Plan to focus on green development. In planning for a post-COVID-19 economic recovery, the 14th Five-Year Plan can underscore the need for high-quality, green and nature-positive approach to development.

In fact, China's recent announcement to become carbon neutral by 2060 is proof that the 14th Five-Year Plan will emphasize environmental protection and sustainable growth.

The Asian Development Bank is preparing its country partnership strategy for China for the 2021-25 period, which is focused on supporting China's transition toward eco-friendly and nature-positive development. The key areas of partnership under the country positive strategy include environmentally sustainable development, climate change mitigation and adaptation, and health security. Over the next five years, the ADB and China will work together to support higher-quality, green development under the 14th Five-Year Plan in three areas:

First, the environment will be the cornerstone of our partnership in supporting two large sub-regional development programs, the Yangtze River Economic Belt and the Yellow River Ecological Corridor.

Second, we will work together to further incorporate climate adaptation and mitigation measures into planning and investments across multiple sectors.

Third, the ADB and China will continue to expand the use of green finance to support development projects. China has become a world leader in promoting green finance through the issuance of green bonds, green lending, green insurance and creating markets for pollution control rights.

Ecological civilization will be the theme of the 15th Conference of the Parties to the Convention on Biological Diversity scheduled for May 2021 in China. Since the conference will include the launch of the Post-2020 Global Biodiversity Framework and a new 10-year plan to 2030 to guide global action to protect the environment and support livelihoods, it will provide China with a global platform to highlight its own environmental achievements, and launch a number of new green initiatives under the 14th Five-Year Plan.