In their eyes, Global South countries demand currently stronger financial cooperation and pooling strengths and wisdom of the Global South is in need to enhance related financial cooperation.
Shahin Mahmudzada, executive director of the Central Bank of Azerbaijan, echoed the opinions, highlighting the importance of building a sound ecosystem for development of finance and green transition in face of increasingly imperative climate change situations.
Currently, global green transition is shifting from passive responses to combating climate changes to active strategies pursuing energy independence and improvement in economic efficiency, noted Li Hongyan, deputy head of the State Administration of Foreign Exchange.
Under such circumstances, green and sustainable development remains a question that must be answered in the common development of humanity and the Global South is becoming a value highland for green investment, said Wang Zhiheng, president of Agricultural Bank of China (ABC).
Amid global green industrial chains' reshaping, opportunities are there for China and other Global South countries to seek win-win cooperation through high-level financial opening-up and deeper green financial coordination, added Li.
To co-advance high-quality green finance development and guide global capital flows into green and low-carbon sectors, Chinese financial institutions are encouraged to carry out green and low-carbon investment in Belt and Road partner countries, said Lu Lei, deputy governor of the People's Bank of China.
Green is the defining color of high-quality Global South development and Chinese entrepreneurs and financiers are co-contributing a series of sustainable solutions and wisdom to Global South green development, said Yang Dongning, vice president of the Export-Import Bank of China.
Under the theme of "Illuminating Global South," the forum with Fenjiu Group as premier partner, ABC as strategic partner and Zeekr NEVs as designated vehicles, witnessed establishment of the forum council, debut of the bilingual Global South Finance journal and start of the Sustainability Solutions Showcase at National Financial Information Center in Beijing.
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