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Parallel Forum on Inclusive Financing and New Energy Development

On March 20, 2025, Beijing hosted the Parallel Forum on Inclusive Finance and Approaches to New Energy Industrialization Development. This event was a sub-session of the Global South Financing Forum 2025, designed to foster dialogue on pressing financial and industrial topics. Organized by the Xinhua News Agency’s trademark office, China's Economic Information Service, and the Shanxi provincial branch of Xinhua News, the forum brought together prominent financiers and industry experts to share insights and experiences in advancing new energy development.

Klaus-Dieter Kaempfer, managing director of Absa China, emphasized the bank's longstanding commitment to economic growth across 12 African markets, a commitment that spans over a century. Through the establishment of a non-banking subsidiary in Beijing last year, Absa aims to facilitate Chinese businesses and investors exploring avenues in African markets, indicating a significant push toward international cooperation in energy financing and development.

In parallel, Mohammad Faisal, executive director of the Center of Reform on Economics (CORE) Indonesia, shared insights on Indonesia's ramped-up efforts in the electric vehicle sector, corresponding to China's precedence as the world leader in electric vehicle manufacturing. Faisal highlighted the challenges developing countries face in transitioning to green energy and sustainable industrial practices. He noted that the forum served as a vital platform for knowledge exchange, inspiring collective innovation and mutual learning in energy industrialization.

Further insights were presented by Xiong Yizhi, the mayor of Lyuliang city, which actively leverages its industrial strengths to cultivate high-quality productivity in green energy. Underlining the significance of innovative financial products and supportive policies, Lyuliang's current installations in new energy contribute over 30% of its total energy capacity. The city's focused initiatives indicate its progressive approach to sustainable development within the energy industry.

Additionally, Zheng Peng, president of the Pengfei Group, spoke about his company's commitment to eco-friendly development strategies aligned with China's dual-carbon goals and the hydrogen energy development plan for Shanxi province. Covering recent advancements in hydrogen energy technologies, Zheng's address underlined the potential of innovative solutions to meet growing energy demands sustainably.

Moreover, the event featured the unveiling of the report on the index of high-quality hydrogen energy development in China, showcasing the progress made nationally and locally from 2021 to 2023. This report serves as a critical benchmark for understanding the landscape of hydrogen energy development within the country.

A roundtable discussion took place where renowned financial experts and government representatives discussed the role of inclusive financing in advancing new energy industrialization. This exploration aims not only to enhance investment in new energy technologies but also to ensure that these advancements are accessible to all stakeholders involved.

In summary, the Parallel Forum on Inclusive Financing and Approaches to New Energy Industrialization Development highlighted the collaborative efforts being undertaken by multiple stakeholders in the energy sector. The event successfully positioned itself as a significant contributor to ongoing discussions about sustainability, providing a rich environment for sharing insights and fostering cooperation on a global scale. By reinforcing the importance of inclusive financing mechanisms, the forum underlined their critical role in supporting the industrialization of renewable energy sources, fundamental to addressing the complex challenges of climate change and energy security.

The event marked a vital step towards developing frameworks and strategies essential for achieving sustainable energy goals worldwide.