China releases Arctic Policy

•  China has released its Arctic Policy. The document draws a picture of how China views the economic possibilities the region offers.
• With this, China has vowed to actively participate in Arctic affairs as a “near-Arctic State” and a major stakeholder in the Arctic.

Main Highlights of the policy:

• This policy seemed to lay out the grounds for China to make claims to economic resources and to shipping routes in the region.
• As a result of global warming, the Arctic shipping routes are likely to become important transport routes for international trade. China hopes to work with all parties to build a 'Polar Silk Road' through developing the Arctic shipping routes," the policy document said, directly linking itself to Chinese President Xi Jinping's ambitious Belt and Road Initiative.
• China advocates protection and rational use of the region and encourages its enterprises to engage in international cooperation on the exploration for and utilization of Arctic resources by making the best use of their advantages in capital, technology and domestic market.
• It also made it a point to repeatedly state that it would not infringe on the rights of the Arctic States - countries like US, Russia, Canada, and the Nordic countries. It called for cooperation, rather than acting individually, with these players in the exploration and exploitation of oil, gas, mineral and other non-living resources.
• As fish stocks have shown a tendency to move northwards due to climate change and other factors, the Arctic has the potential to become a new fishing ground in the future.China supports efforts to formulate a legally binding international agreement on the management of fisheries in the high seas portion of the Arctic Ocean.
• It also said China would support the creation of an international organisation to manage fisheries in the Arctic region.
• China also committed to continue and expand its research activities in the Arctic region. It repeatedly referred to the ecological sensitivity of the area, and promised that it would be part of efforts to help conserve Arctic biodiversity and the eco-system.
• The policy document also addressed the possibility of Arctic tourism, and said it would work with local stakeholders to build up relevant expertise in the Chinese tourism sector.

By: Vishal