Bert Hofman, former World Bank Country Director for China and professor at the East Asian Institute at the National University of Singapore, gives an interview to the Global Times in Beijing on the sidelines of the China Development Forum on March 23, 2026. Photo: Chen Qingqing/GT

China is "actually relatively well positioned," given that the country has a "pretty balanced" energy structure, Bert Hofman, former World Bank Country Director for China and professor at the East Asian Institute at the National University of Singapore, told the Global Times on Monday in Beijing on the sideline of the China Development Forum.

As US and Israeli strikes against Iran rattle financial markets and send oil prices surging, over 80 leaders of the world's largest multinational corporations, convened in Beijing from Sunday to Monday for the China Development Forum.

When asked by Global Times reporters to share his views on the Middle East conflict's impact on the global market and the role that China can play, Hofman said that the longer the conflict persists and the more intensive it comes, the more it affects global markets. The oil markets and the gas markets are severely disrupted at the moment, and that affects the world economy. "You already see the capital markets down around the world, particularly in those countries that are dependent on the gulf for energy supplies," Hofman said.

According to Hofman, although China will also be affected, the country is "actually relatively well positioned," given that it has a "pretty balanced" energy structure. 

"For China, it's only 25 percent or so of energy that comes from the Gulf, which have a much more diversified import than, for instance, Japan and India. They've got a lot more of their imports from the Gulf. So China is pretty well done," Hofman told the Global Times.

"China's development of renewable has been helping them as well, because now they are less dependent on oil and gas from abroad. If you want balances, then it balances the risk with prepared policy," he said.

Hofman also highlighted China's diplomatic role in mediating this conflict, given that China has good relations with many countries in the Gulf region. "So I believe that they [China] would be able to play a good role in diplomacy. I think they [China] already have," Hofman said.