International Finance Forum (IFF) announced the release of IFF China Report 2021 (the "Report") outlining important China's policy initiatives and the global cooperation opportunities in the context of COVID-19 and beyond. 30,000 copies of the report have been issued to over 170 countries and territories.
The Report includes 31 contributions from world's leaders, premier policymakers and financiers on global topics under the five themes: global economic growth in a post-pandemic era, the Belt-and-Road Initiative (BRI), green finance, global capital markets and fintech.
COVID-19 has caused significant disruption to the world economy. However, the ecological implication of the pandemic is as consequential as the economic one, as the public health emergency is symptomatic of a deeper economic problem that undergirds it. To tackle the issue, a shift of focus to "new green infrastructure" is the key, notes Han Seungsoo, Co-Chairman of IFF, Silk Road International Association (SRIA) Chairman.
"The mission of the SRIA must be realigned to mobilise the investment necessary to cope with the 'new normal' after COVID-19. Producing solar and wind power on a large scale across the wasteland along BRI route would help generate clean power for the East, which should be a priority for the SRIA," he writes in the Report.
Underscoring the key measure for a rapid global economic rebound in the post-COVID era, Jim Yong Kim, the 12th president of the World Bank, says in the Report that infrastructure investment should be "one of the priorities in helping developing countries recover more quickly from the pandemic". Marcos Toyjo, president of the New Development Bank, notes that "new infrastructure must answer the demands of the fourth industrial revolution."
The Report also highlights the role of BRI in fostering sustainability in terms of global development through the Silk Road Fund and the joint efforts of member countries in promoting green transition. To accelerate the green transition, the Report calls on the BRI countries for setting up carbon-neutrality targets in line with global sustainability goals and enforcing environmental protection legislation.
About IFF
Established in 2003, the IFF is a non-profit and non-governmental unofficial international forum organization. Headquartered in Beijing, it is a high-level dialogue and academic exchange mechanism co-sponsored by business leaders and scholars in the global financial community and academic circles.
For more information, please visit: http://www.iff.org.cn/php/list.php?tid=403
Steel Shen
(86)10-5087-3634
steel.shen@iff.org.cn
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