The outlook for the global economy, China's future role in international markets, and much more are being discussed at the International Finance Forum taking place this weekend in southern China's city of Guangzhou. Attendees from the IMF, World Bank and the UN are all in attendance. CGTN's Omar Khan has more.

The Global Annual Conference of the International Finance Forum has brought together financial experts from around the world.

For 20 years, the platform has engaged in dialog focused on international financial cooperation, new models of growth and sustainability.

This year's gathering is an opportunity for Guangdong Province to showcase what it can contribute to the global economic recovery.

WANG WEIZHONG Governor, Guangdong Province "We've adhered to the promotion of high-quality economic development, taking the real economy as the foundation and manufacturing as the leader. We're creating a province that focuses on education, science and technology, and innovation. We've formed eight trillion yuan worth of industrial clusters, and our regional innovation capacity has ranked first in the country for eight consecutive years."

The IFF network connects 50 countries and regions and more than 100,000 financial experts.

For many of them, this meeting is a chance to map out a long-term plan for future financial expansion.

HAN SEUNG-SOO Co-Chairman, IFF Former Prime Minister of the Republic of Korea "In the middle of the Greater Bay Area, we are going to build an international financial island, where all kinds of international financial activities will be carried out. Many financial institutions, both Chinese and international, will take seat in this island, working to promote the Greater Bay Area as one of the best financial centers in the world."

Last year, Guangdong's foreign trade reached 8.3 trillion yuan, one fifth of the national total.

But putting aside its traditional prowess in the sector, the southern economic powerhouse aims to transform itself and become more than just the factory of the world.

OMAR KHAN Guangzhou, Guangdong Province "Though much of the focus of this edition of the event will be on the turbulence being felt throughout the global economy, financial leaders are also looking at the potential of the Greater Bay Area, new ways of sustainable finance, and perhaps most importantly, how the Chinese economy can play a pivotal role in supporting global economic recovery. Omar Khan, CGTN, Guangzhou, Guangdong Province."