International Finance Forum 13th Annual Conference
2016-09-04 15:14:00    source:    click:

Coinciding with the 2016 G20 Summit in Hangzhou, the International Finance Forum 13th Annual Conference was held in Shanghai on September 1, 2016. The theme of this forum is “F20 Initiative: Restore the Essence of Finance”. Mr. Ban Ki-moon, Secretary-General of the United Nations delivered a video speech to wish this conference a complete successful. And Mr. Kevin Rudd, Chairman of IFF and the 26th Prime Minister of Australia declared launch of the “F20 Initiative” on behalf of the International Finance Forum.

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Most IFF leaders and members gathered together in this grand event. Dr. Han Seung-soo, former Prime Minister of Korea and the President of the 56th Session of the UN General Assembly; Mr. Yukio Hatoyama, Chairman of the IFF Advisory Committee and former Prime Minister of Japan; Dame Jenny Shipley, Chairperson of the IFF Comprehensive and Sustainable Development Committee and the 36th Prime Minister of New Zealand; HRH Prince Turki bin Abdullah bin Abdulla Al-Saud, Co-chairman of IFF Fund Committee and CEO of King Abdullah Foundation; Mr Zhou Hanmin, IFF Executive Board Member and Vice-chairman of the CPPCC Shanghai Municipal Committee; Dr. Domenico Siniscalco, IFF Advisory Committee Member and former Minister of Economy and Finance of Italy attended and addressed the opening ceremony.

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Dr. Ban Ki-moon pointed out that against the backdrop of sluggish global demand and floating economy, all countries are expected to boost sustainable development through policy incentives and structural reforms. He remarked that the F20 Initiative: Restore the Essence of Finance, is very timely.

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Mr. Kuvin Rudd highly appreciated the bilingual IFF China Report co-published by the International Finance Forum (IFF) and the Central Banking Publications (CBP) from the UK. He held that one important agenda to be discussed in this conference is how the F20 will unite banks, financial departments and private institutions of 20 major economies to propel the G20 agenda.

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Dr. Han Seung-soo looked forward to a F20 Initiative which will facilitate global trade and capital flow, support the Belt and Road Initiative and bridge the East and the West. Furthermore, he hoped that IFF could help construct an innovative, vigorous, interconnected and inclusive world economy though enhanced financial dialogues, cooperation and governance.

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Mr. Yukio Hatoyama viewed that the F20 Initiative is very timely and hoped this new mechanism, in the spirit of openness and inclusiveness, would promote private and public interactions. Also, he called on representatives from governments and business to draft concrete suggestions on this initiative and put them into practice.

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Dame Jenny Shipley called for confidence in the financial framework. Under any circumstances, people should be on top agenda and private benefit and public benefit shall not be separated. Moreover, the F20 can gather people with same challenges all together and discuss ways to solve these problems. From this perspective, IFF is a favorable platform for carrying out dialogues.

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Mr. Zhou Hanmin pointed that the real economy and finance are interdependent. Only by restoring the essence of finance can the real economy be better supported and can the global economic recovery and sustainable development be realized. We are still seeking answers to questions such as how to integrate global networks to boost the economy, how to accelerate financial reforms and how to revitalize global trade and investment. So it is one of our purposes to initiate the F20.

At the launch ceremony, all IFF members proposed the F20 Initiative as follows: Establishing the F20 global network; Restoring the essence of finance; Providing new drivers to global governance; Facilitating national and regional financial cooperation dialogues; Ensuring China and emerging economies play their full roles; Establishing a global green financial system; Promoting the inclusive finance development; Boosting growth through financial innovation; Promoting the Silk Road Initiative and Action and Establishing the IFF Institute and the IFF Academy.

In the following two days, the forum also discussed topics of  “Strengthening macroeconomic policy coordination”, “Reinvigorating global trade and investment”, “Supply-side structural reform and new balance”, “Digital finance: governance and supervision”, “Brexit: stability and future” and “Role of private capitals in developing Belt and Road Initiative”. Dr. Gu Shengzu, IFF Vice President and Vice Chairman of Financial and Economic Affairs Committee of the National People’s Congress; Mr. Edmond Alphandery, IFF Board Member, former Finance Minister of France and Chairman of Euro Group; Ms. Carla Hills, IFF Advisory Committee Member and Chairperson of the National Committee on U.S-China Relations; Mr He Yafei, former Vice Minister of Foreign Affairs; Mr. Zhang Xinxin, Director of China News Service; Mr. Li Dongrong, President of National Internet Finance Association of China  and many other political leaders, experts, scholars and entrepreneurs attended the forum and participated in the discussions.
 

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