Insights from the Parallel Forum on Inclusive Finance in Beijing: A Look at New Energy Industrialization
On March 20, 2025, Beijing hosted the Parallel Forum on Inclusive Finance and Approaches to New Energy Industrialization Development. This event served as a pivotal dialogue platform for addressing the interplay between finance and the advocacy of green energy industrialization. Co-hosted by the Brand Work Office of the Xinhua News Agency, the China Economic Information Service, and the Shanxi Branch of the Xinhua News Agency, the forum promoted an array of discussions pertinent to sustainable economic development.
Klaus-Dieter Kaempfer, the Chief Executive of Absa China, underscored the significance of inclusive financing in fostering economic growth across 12 African nations over the past 130 years. Following the establishment of a non-banking subsidiary in Beijing, Absa aims to assist Chinese businesses and investors in penetrating the African markets, paving the way for greater investment and economic synergy.
The forum also highlighted China's emergence as the leading global manufacturer of electric vehicles, a trend echoed by Mohammad Faisal, Executive Director of the Center of Reform on Economics (CORE Indonesia). Faisal noted that despite challenges faced by developing nations in pursuing green energy solutions and sustainable industrialization, the forum provided a vital opportunity for sharing experiences and fostering mutual learning among stakeholders in different countries.
Lyuliang City's Mayor, Xiong Yizhi, pointed out that the city is leveraging its industrial strengths to promote new, quality production capabilities within the energy sector. Through favorable policies and innovative financial products, Lyuliang has accelerated the growth of its emerging energy economy, which now boasts a renewable energy installation capacity exceeding 30% of the total.
Zheng Peng, Chairman and President of the Pengfei Group—ranked among China's top 500 companies—delivered a keynote address on the company's commitments to green development, aligning with China's dual carbon goals and the hydrogen energy development plan of Shanxi Province.
Additionally, during the event, the China Economic Information Service unveiled the China (Xiaoyi, Lyuliang) Hydrogen Energy High Quality Development Index Report. This report monitors the progress of high-quality hydrogen energy development at national and local levels, showcasing a consistent growth trajectory from 2021 to 2023.
The forum concluded with a roundtable session that brought together prominent financiers and government representatives to explore the mechanisms of inclusive financing and its essential role in spearheading new energy industrialization. This event not only served as a catalyst for dialogue but also emphasized the global commitment needed to address climate change and push for sustainable industrial practices.
Overall, the discussions and collaborative efforts that emerged from the Parallel Forum illuminate the path forward in harnessing inclusive finance for collective growth and the future of energy industrialization, showcasing the vital role of innovation and cooperation in overcoming environmental challenges together.
Klaus-Dieter Kaempfer, the Chief Executive of Absa China, underscored the significance of inclusive financing in fostering economic growth across 12 African nations over the past 130 years. Following the establishment of a non-banking subsidiary in Beijing, Absa aims to assist Chinese businesses and investors in penetrating the African markets, paving the way for greater investment and economic synergy.
The forum also highlighted China's emergence as the leading global manufacturer of electric vehicles, a trend echoed by Mohammad Faisal, Executive Director of the Center of Reform on Economics (CORE Indonesia). Faisal noted that despite challenges faced by developing nations in pursuing green energy solutions and sustainable industrialization, the forum provided a vital opportunity for sharing experiences and fostering mutual learning among stakeholders in different countries.
Lyuliang City's Mayor, Xiong Yizhi, pointed out that the city is leveraging its industrial strengths to promote new, quality production capabilities within the energy sector. Through favorable policies and innovative financial products, Lyuliang has accelerated the growth of its emerging energy economy, which now boasts a renewable energy installation capacity exceeding 30% of the total.
Zheng Peng, Chairman and President of the Pengfei Group—ranked among China's top 500 companies—delivered a keynote address on the company's commitments to green development, aligning with China's dual carbon goals and the hydrogen energy development plan of Shanxi Province.
Additionally, during the event, the China Economic Information Service unveiled the China (Xiaoyi, Lyuliang) Hydrogen Energy High Quality Development Index Report. This report monitors the progress of high-quality hydrogen energy development at national and local levels, showcasing a consistent growth trajectory from 2021 to 2023.
The forum concluded with a roundtable session that brought together prominent financiers and government representatives to explore the mechanisms of inclusive financing and its essential role in spearheading new energy industrialization. This event not only served as a catalyst for dialogue but also emphasized the global commitment needed to address climate change and push for sustainable industrial practices.
Overall, the discussions and collaborative efforts that emerged from the Parallel Forum illuminate the path forward in harnessing inclusive finance for collective growth and the future of energy industrialization, showcasing the vital role of innovation and cooperation in overcoming environmental challenges together.
Topics Energy）
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