As global development enters a critical stage, the world urgently calls for rethinking and reshaping the basis of the value of human society and restoring the essence of finance to serve the real economy, improve the fundamental economic system and promote economic recovery and comprehensive and sustainable development.

The International Finance Forum (IFF) is an independent, non-profit and non-governmental international organization. It was founded in October 2003 by global financial leaders, policymakers, leading scholars and experts from more than 20 states and regions – including China, the US and the European Union – and international organizations such as the U.N.

IFF is a long-standing high-level dialogue platform and communications and research network in the financial realm. It aims to safeguard and improve international financial order through non-governmental, highlevel dialogues featuring multilateral, equal, practical and constructive co-operation to enhance world economic inclusiveness and comprehensive and sustainable development. IFF is committed to becoming an independent, transparent and non-governmental think-tank that focuses on international financial public diplomacy and strategies.

To respond to the world’s new order, circumstances and challenges, and to promote global stability and co-operative dialogues – as set out at the 2016 Group of 20 Summit in China – all members of IFF approved its upgrade to "F20" status in the global financial sphere. This decision was based on IFF’s well-developed framework built up over the past 13 years.

The F20 Initiative aims to usher in a new era of comprehensive and sustainable development – new capital, new value, new world. We believe by co-building the F20 global network, we can restore the essence of finance to serve the real economy, refining fundamental economic systems, bolstering economic recovery and comprehensive and sustainable development.
 
To this end, IFF proposes the following 11 actions:
1. Establishing the F20 global network.  The IFF Board and executive body will be re-organized to set up a global open network connecting emerging economies and BRI countries and regions, with G20 countries and regions at its core. In doing so, IFF will be upgraded to the F20 status.
 
2. Restoring the essence of finance.  The F20 will fulfill its role as a global network platform by restoring the essence of finance – to serve the real economy – by improving the fundamental economic system, ultimately accelerating global recovery and bolstering the comprehensive and sustainable development of the world. This will develop the primary function of financial instruments to promote comprehensive, sound and sustainable development of the fundamental economy and human civilization.
 
3. Providing new drivers to global governance. IFF will carry out F20 dialogues and other events to cement G20's role as a major international economic forum, reinforce macro-economic policy co-operation and expedite global financial system reform. This will be conducive to revive world trade and investment, and promote researches on global financial order, governance, stability and the relationship between finance and peace.
 
4. Facilitating national and regional financial co-operation and dialogues. As a platform, IFF will regularly hold F20 Summits and national / regional meetings on financial cooperation, where member states can share their development strategies and experiences, discuss issues facing G20 and beyond and encourage the implementation of G20 Summit results. In the end, F20 will become a strong supplement to G20 - an authoritative platform bolstering communication and cooperation in global economy, finance and public relations.
 
5. Giving full play to China and other emerging economies. China and emerging economies should shoulder their due responsibilities to enhance national and regional stability, cooperation and exchange, and improve coordination among financial and economic sectors. Actions are required in the following areas: figuring out new momentum and challenges facing G20 through F20; promoting supply-side reform and adjusting economic structure to optimize factor allocation; boosting economy in both quality and quantity; and vigourating the potential and energy of emerging economies. Chinese enterprises should be supported to go global, exporting Chinese capital, technologies and production capacity through direct outbound investment for win-win results.
 
6. Establishing a global green financial system. Governments worldwide should be encouraged to integrate green finance as a national development strategy. To ensure a more sustainable and greener growth, a series of measures should be adopted, including establishing laws and regulations in green finance, promoting greener investment and economic structure, building guarantee mechanism for green projects, expanding green finance market with various financial tools and enabling private capital.
 
7. Promoting inclusive finance development. Small and medium sized enterprises should be facilitated to go global, carry out international cooperation and look for financing, thus bolstering balanced social development. Governments should improve social welfare and security, alleviate poverty and protect the disadvantaged with better, safer and more convenient financial services to the public. Inclusive finance can create a world with peace, stability and better livelihood.
 
8. Boosting growth through financial innovation. The core of financial innovation lies in utilizing technology to perform the fundamental function of finance – to boost the real economy’s development. Fair and efficient regulation systems must be built to tighten regulation on digital economy and financial services, monitor and control benefits and risks in e-commerce innovation, and allow digital breakthroughs and inclusive development of block chain technologies.
 
9. Promoting the Belt and Road Initiative. The Silk Road International Association (SRIA) and SRIA Summit will help to create a mechanism where the international community, global market and private capital can co-build BRI, injecting more vigour into BRI cooperation. Through win-win regional cooperation, participants
will form a community of shared interests, thus promoting peaceful, inclusive and sustainable development.
10. Establishing the IFF Institute. Leveraging its academic resources, IFF is going to connect countries and regions for in-depth studies on major global financial issues and cooperation approaches, and publish reports that are trend-leading, forword-looking and of high quality. The IFF Institute aims to contribute to reforming and refining financial systems, diversifing international currencies, and establishing a global financial system that is fair, inclusive and orderly.
 
11. Establishing the IFF Academy. The IFF Academy will be established as a world-class, comprehensive and cross-disciplinary education highland that focuses on training and innovative practices. It aims to cultivate versatile and innovative financial talents capable in the international competition, and new capital leaders with rich experiences and strategic vision. Meanwhile, the Academy will also strengthen worldwide exchanges, cooperation and development in the realm of finance.