Exploring Inclusive Finance and New Energy Industrialization in Beijing's Recent Forum

Forum on Inclusive Finance and New Energy Industrialization

On March 20, 2025, Beijing hosted a significant forum focused on inclusive finance and new energy industrialization. This event was organized as a parallel event of the Global South Financial Forum 2025, facilitated by the Brand Work Office of Xinhua News Agency and the Economic Information Service of China, in collaboration with the Shanxi branch of the Xinhua News Agency. The aim was to encourage dialogues and exchanges centered on the development of energy industrialization through inclusive financial strategies.

During the forum, Klaus-Dieter Kaempfer, the CEO of ABSA China, spotlighted Absa's long-standing commitment to economic growth across 12 African markets over the past 130 years. Notably, Absa established a non-banking subsidiary in Beijing a year ago to assist Chinese businesses and investors in penetrating African markets. This initiative represents a vital link between China's robust energy sector and the African economic landscape.

The discussion also involved Mohammad Faisal, the Executive Director of the Center for Reform on Economy in Indonesia, who shared insights on how countries, including China and Indonesia, are ramping up their efforts in green energy initiatives. He recognized the substantial challenges that developing nations encounter while striving for green industrialization. The forum provided a platform for sharing knowledge and experiences, vital for overcoming these hurdles.

Moreover, the Mayor of Lyuliang City, Xiong Yizhi, emphasized the city’s commitment to harnessing its industrial advantages in fostering high-quality new productive forces in the energy sector. He revealed that with the implementation of supportive policies and innovative financial products, Lyuliang has expedited its development in the energy industry, boasting that new energy installation capacity now constitutes over 30 percent of the city's total.

In addition, Zheng Peng, Chairman of the Pengfei Group, delivered a keynote speech on his company’s initiatives towards green development. As one of the top 500 companies in China, Pengfei Group aligns its strategies with China’s dual carbon goals and the hydrogen energy development plan established for Shanxi province.

As part of the forum's agenda, the Economic Information Service of China unveiled a report on the Hydrogen Energy Development Index (Xiaoyi, Lyuliang). This index assesses the quality of hydrogen energy development both nationally and locally, indicating steady growth from 2021 to 2023.

A roundtable discussion during the event brought together renowned financiers and governmental representatives to explore the roles and mechanisms of inclusive finance in promoting new energy industrialization. The insights shared during these sessions highlighted the importance of collaboration across sectors to drive forward China's energy transformation.

Overall, the forum served not only as a catalyst for innovative financial approaches but also fostered vital connections to enhance cooperation in the new energy sector among participating nations. Participants left with a stronger foundation for driving the global energy transition through inclusive financial practices and strategic partnerships.