The Annual Conference of Financial Street Forum 2021 was held in Beijing from Oct 20 to 22. Beijing Foreign Studies University (BFSU) was invited to host panel discussions on economic recovery and green development at the parallel forum “Two-way Opening and Financial Cooperation”.

Liu Jin, vice-president of China Development Bank (CDB), explained CDB’s green and low-carbon development philosophy, and summarized its contributions in serving the country’s socioeconomic transformation and facilitating global economic recovery. He said he believes that a new round of industrial, scientific and technical revolution will bring about great opportunities for a low-carbon economy and green transformation.  

“We will continue to deepen international cooperation, strengthen studies on special plans, establish a complete environmental and social impact assessment system, support overseas clean energy and livelihood projects, serve the Belt and Road Initiative (BRI) with developing finance, promote regional economic recovery and achieve the goal of green development,” Liu said.

Yang Dan, deputy secretary of the CPC BFSU committee and president of the university, speaks at the parallel forum “Two-way Opening and Financial Cooperation”.

Yang Dan, deputy secretary of the CPC BFSU committee and president of the university, said that China’s economy has shown resilience over the past two years despite the stagnant global economy brought by the COVID -19 pandemic. The Chinese government has vigorously advanced a “dual circulation” development pattern, aiming at green development and high-quality growth. 

While maintaining economic growth, the government has promoted the goals of achieving peak carbon emissions by 2030 and carbon neutrality by 2060, continuously improved the country’s ecological environment, and negotiated and signed multiple bilateral and regional free trade agreements. 

Marcos Troyjo, president of the New Development Bank (NDB), delivered a keynote speech via video link. He affirmed the importance of global cooperation and green development and expounded on NDB’s contribution to the development of BRICS countries. 

“The NDB will give consideration to emerging economies, formulate a green agenda, facilitate climate change response, pilot innovative financial instruments, promote green financing and green investment, strengthen cooperation with multilateral development banks, and provide a platform for green industries to share their successful experience,” Troyjo said.

Sun Youzhong, a member of the standing committee of the CPC BFSU committee and vice-president of the university, chairs a panel discussion.

Two panel discussions on economic recovery and green development were held at the parallel forum. The events were presided over by Sun Youzhong, a member of the standing committee of the CPC BFSU committee and vice-president of the university and Niu Huayong, dean of the International Business School at BFSU. 

Experts exchange views at the panel discussion themed “Belt and Road: Economic Recovery”.

At a panel discussion centered on economic recovery, Wang Zhongjing, chief executive officer of the Multilateral Cooperation Center for Development Finance, Wang Xin, director of the Research Bureau at the People’s Bank of China, Anoop Singh, a member of the Fifteenth Finance Commission of India, former director of the Asia and Pacific Department of the International Monetary Fund (IMF) and an adjunct professor of Georgetown University, IL Houng Lee, a former member of the Monetary Policy Board of the Bank of Korea, the eighth president of the Korea Institute for International Economic Policy, former ambassador for International Cooperation and G20 Sherpa, former senior resident representative of the IMF Office in China and a visiting professor at Seoul National University, Wu Huimin, head of the BRI Research Center at CICC Global Institute (CGI) and managing director of CGI, and Hon.Thilanga Sumathipala, former deputy speaker of the Parliament of Sri Lanka, minister of the State Ministry of Technology and Innovation and chairman of the Asia Capital PLC, shared opinions on BRI countries’ mutually beneficial cooperation, commitments in pandemic combat and global economic recovery, and further adjustment of macroeconomic policies, financial policies and monetary policies in the post-pandemic era. 

Experts exchange views at the panel discussion “Belt and Road: Green Development”.

At a panel discussion centered on green development, Cheng Zhijun, deputy director of the Department of International Economic and Financial Cooperation and director of the World Bank Loan Project Assessment Center at the Ministry of Finance (MOF), Martin Raiser, World Bank country director for China, Jiao Xiaoping, director of the China Clean Development Mechanism Fund Management Center and director of the MOF China Public Private Partnerships Center, Beate Trankmann, resident representative of the United Nations Development Programme in China, Li Yonghong, deputy director of the Department of International Cooperation at the Ministry of Ecology and Environment, and Rebecca Ivey, chief representative officer of the China Office at the World Economic Forum, exchanged views on the promotion of green development and ecological civilization construction in countries involved in the BRI and the rest of the world. 

Founded in 2012, the Financial Street Forum enjoys a good reputation in financial circles at home and abroad. It is hailed as the bellwether of China’s financial reform and development. Since 2020, the annual meeting has been upgraded to a national and international professional forum, acting as an important platform for Beijing’s high-quality development and opening-up.

The Annual Conference of Financial Street Forum 2021 continued to strengthen its role as a channel to voice China’s participation in global financial governance, boost benign interaction between finance and the real economy, promote national financial policies and facilitate international communication and cooperation in the financial industry.