Beijing Hosts Groundbreaking Forum on Inclusive Finance and New Energy Development

On March 20, 2025, the Parallel Forum on Inclusive Finance and Approaches to New Energy Industrialization Development took place in Beijing, seamlessly integrated as a side event of the Global South Financiers Forum. The event was organized by various esteemed groups, including the Brand Work Office of Xinhua News Agency, the China Economic Information Service, and the Shanxi Branch of Xinhua News Agency. The forum offered a valuable platform for sharing insights and fostering dialogues centered on the themes of inclusive finance and new energy industrialization.

Focus of the Forum

Keynote speakers and participants included notable figures from the financial and energy sectors, each contributing their unique perspectives on how to effectively approach the challenges of inclusive finance while also advancing the industrialization of new energy technologies. Klaus-Dieter Kaempfer, CEO of Absa China, commended his company’s extensive 130 years of experience in supporting economic growth across 12 African markets. Kaempfer spotlighted the establishment of a non-banking subsidiary in Beijing, aimed at assisting Chinese enterprises in their quest to tap into the African markets.

In related discussions, Mohammad Faisal, Executive Director of the Center of Reform on Economics (CORE Indonesia), emphasized the significant push towards electric vehicle production, particularly highlighting Indonesia's endeavors in this area. His insights pointed to the ongoing research efforts CORE Indonesia is conducting, intending to assist developing countries in navigating the complexities of green energy and industrialization.

Local Developments and Innovations

Xiong Yizhi, Mayor of Lyuliang City, shared insights about how his region is harnessing its industrial strengths to enhance productively within the energy sector, aligning with broader goals for green sustainable development. Under his administration, Lyuliang has introduced favorable policies combined with innovative financial products, successfully positioning new energy installations to account for over 30% of the city's total energy capacity.

Additionally, Zheng Peng, Chairman and President of the Pengfei Group, delivered a compelling speech detailing his company’s commitment to green initiatives and alignment with China's dual carbon goals as well as the regional hydrogen energy development plan being pursued in Shanxi. This commitment to sustainable practices positions Pengfei Group as a leader among China's top enterprises.

The Unveiling of the Hydrogen Energy Development Index

During the forum, China Economic Information Service released the China (Xiaoyi, Lyuliang) Hydrogen Energy High-quality Development Index Report. This report, which tracks both local and national levels of hydrogen energy development, demonstrated a steady growth trend from 2021 to 2023, indicating progress in this vital sector.

In a collaborative roundtable session, esteemed financiers and government representatives discussed the role inclusive finance plays in fostering advancements within the new energy industrialization landscape. This open dialogue served not only as a learning opportunity but also as a platform to create collective strategies for addressing future financial and industrial challenges.

Conclusion

The Parallel Forum on Inclusive Finance and Approaches to New Energy Industrialization Development highlighted the significance of collaboration, knowledge sharing, and innovative thinking among financial and energy sectors. As cities like Beijing and Lyuliang lead the way in sustainable practices, such forums are critical in charting a clear path toward inclusive finance models that support green energy initiatives, paving the way for a more sustainable future.

Final Thoughts

As global awareness of climate change and sustainability continues to rise, forums such as this not only present opportunities for vital discussions and initiatives but also solidify the commitment of participating countries to work collectively in transitioning toward a more sustainable energy future.