2018 High-Level Policy Forum on Global Governance and 2018 “Belt and Road” Finance and Investment Forum Held in Guangzhou

On April 12, 2018, the High-Level Policy Forum on Global Governance and the 2018 “Belt and Road” Finance and Investment Forum were held in Guangzhou. Under the theme of “Belt and Road: Financial Cooperation and Sustainable Development,” the participants exchanged their views on such topics as “Promoting Regional Cooperation through Financing,” “Creating a Aew Path for Sustainable Development through the Belt and Road initiative,” and “Innovative Finance and Sustainable Development”. The forums were held under the guidance of the National Development and Reform Commission (NDRC), co-hosted by China Center for International Economic Exchanges (CCIEE) and the United Nations Development Program (UNDP), and organized by Guangzhou Municipal People’s Government.

Zhou Xiaochuan, Vice Chairman of the Boao Forum for Asia and Vice Chairman of the 12th Chinese People’s Political Consultative Conference (CPPCC), Zhang Xiaoqiang, Executive Vice Chairman of CCIEE, Tegenework Gettu, Under-Secretary-General of the United Nations and Associate Administrator of the UNDP, H.E Vongthep Arthakaivalvatee, Deputy Secretary-General of ASEAN for Socio-Cultural Community, Wen Guohui, Deputy Secretary of Guangzhou Municipal Committee and Mayor of the city, attended the opening ceremony and delivered speeches. More than 300 representatives from 10 major countries participating in the Belt and Road initiative attended the meeting, including Pakistan, Cambodia, Egypt, Ethiopia. International organizations likes United Nations agencies, international financial institutions, companies and think tanks were also invited to the forum. Chinese and foreign guests gathered together to share their insights on the development of the Belt and Road, and promote the implementation of the United Nations “2030 Sustainable Development Agenda” and 17 sustainable development goals.

Experts at the meeting believe that the current global economy has shown signs of recovery, but the foundation of the recovery is weak and we are faced with the challenge of anti-globalization. As a responsible nation, China has taken practical actions to promote the development of globalization, and proposed the Belt and Road initiative to bring opportunities for countries along the route. Furthermore, China has initiated the Asian Infrastructure Investment Bank (AIIB), the silk road fund and encouraged financial institutions such as the China Development Bank and the China Export-Import Bank to provide financial support for the Belt and Road Initiative, in order to solve the financial problem faced by globalization and the Belt and Road initiative. Currently, countries along the Belt and Road need to work on financial cooperation, rely on enterprises as the main body and have market-oriented operations in place, so as to ensure the sustainability of investment and financing of the Belt and Road.

The participants also stated that the trend of cooperation among different countries is unstoppable, and the reform of the global governance system and economic globalization are in a critical period. Only by adhering to peaceful development and joint effort can we truly achieve win-win results. All countries should work together to expand cooperation, promote consensus among all parties, strengthen coordination, and make contributions to the reform of the global governance system.

So far, three rounds of the High-Level Forum on Global Governance have been co-hosted by CCIEE and UNDP under the themes of “Reforming and improving the global governance,” “The role of international organizations in the global governance system, and the challenges they faced,” and “The Belt and Road: new road for regional development.”