Promotion of sustainable financing for the Belt and Road Initiative
Author: Guo Wanda, Executive Vice President of China Development Institute
What is Sustainable Financing
Sustainable financing refers to financing activities taking account of sustainable development criteria. It forms a financial development model that considers the coordination of humanity, society, economy and environment, and guides financial resources’ flow to more inclusive and sustainable areas.
The UN Environment first published a report in October 2015, entitled ‘Building a sustainable financial system’, which extends the field of sustainable financing to public debt, society and governance. This was further explored in November 2017, when the UN Environment and the World Bank jointly published the ’Roadmap for a Sustainable Financial System', which demonstrated how financial industries can play a different role in contemporary society by practicing sustainable financing, and engaging in social responsibilities. This report also suggests that financial technology has the potential to protect environment, and support sustainable development finance.
In February 2018, the G20 convened its Sustainable Finance Study Group (SFSG) in London. The SFSG focused on green finance as the core of their study, and also included sustainable development factors such as financial supports for disadvantaged groups, innovation and entrepreneurship, income distribution and SME development to the scope of study.
Why ‘Belt and Road Initiative’ needs sustainable financing?
Financing is essential for the Belt and Road Initiative (BRI). Based on the capital and financial needs of the BRI, a diversified, inclusive and sustainable BRI financing system has been initially established.
To enable this, the construction of diversified financing network has taken shape. The sizeable BRI financing network covers development finance, financial policy, multilateral development institutions and capital markets.
In addition, the sustainable financing policy has formed an initial framework,…
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Unlock the door to opportunity
Author: Fan Gang, President of China Development Institute
Only through further opening-up its economy can China boost its global competitiveness
The remarkable achievements China has made over the past four decades in institutional reform and economic development is a result of its opening-up policy and the development of its export-oriented economy.
Opening its economy enabled China to give…
Big change and China’s economy
Author: Fan Gang, President of China Development Institute
Editor’s Note: At "Global Venture Capital Conference 2020" held in Qingdao on 9th May, Prof. Fan commented on the big change and China's economic future.
Uncertainties continue to increase as the pandemic swept the world. The undetermined probability made it extremely difficult to conduct risk assessment, economic analysis or judgement.…
“Probable information” and “regretless action”
Author: Fan Gang, President of China Development Institute
Editor’s Note: How can we cope with uncertainty during the initiate stage of pandemic? We should release “probable information” and take “regretless actions” instead of missing the window of opportunity, which is what we learn in the COVID-19 pandemic from the perspective of economics.
The toughest economic issue derived from the…
Battle against COVID, an opportunity for China, Japan and South Korea to build joint mechanism
Author:Fu, Yongjia, Postdoctoral Research Fellow, China Development Institute
Editor’s Note:Confronting the deadliest virus in a century, China, Japan and South Korea demonstrated remarkable solidarity. The three nations in East Asia are giving helping hands to each other in hard times. In early February, when China’s confirmed cases were climbing, Japan and South Korea provided China with…
China’s economic recovery from COVID-19 will be slower than it was for SARS
Contributor: Fan Gang, President of CDI,Yuwa Hedrick-Wong, Chief Economics Commentator, Forbes Asia
Editor’s Note: China’s economic recovery will be unlike the V-shaped rebound from the SARS outbreak in 2003. The structure of the Chinese economy today is very different from 2003, and China will also face global headwinds as the economies in North America and Europe are slowing down because of…
Key policy for dealing with COVID-19 is to stimulate immunity of market players
Author: Liu Guohong, Director of Department of Finance Industry
Editor’s Note: COVID-19, ran rampant during China’s Spring Festival. Currently, as the epidemic has been gradually brought under control and remains stable, we need to be alerted to inappropriate response by government departments at different levels, such as frequently rolling out economic policies or extending them to an undue…
What challenges and changes does COVID-19 mean for china’s urbanization
Author: Cao Zhongxiong, Executive Director of New Economy Research Department of CDI
Editor’s Note:The “black swan” incident of the COVID-19 outbreak has led to the temporary shutdown of the global supply chain, making China the “gray rhino” in the world economy. To be sure, COVID-19 will not impede the process of China’s economic transformation and urbanization, but will change their…
Impact of the COVID-19 epidemic on china’s economy and industrial response
Author: Cao Zhongxiong, Executive Director of New Economy Research Department of CDI
Editor’s note: The impact of this epidemic on the economy can be felt in both short and long terms. In the short term, the economy will be hit hard. In the long run, the epidemic will definitely have a profound impact on China’s industries.
In the short term, consumption, infrastructure and labor-intensive…
