#China #Beijing #Global South #Beijing Forum #Silk Road Fund

Exploring the 2025 Global South Financiers Forum

The 2025 Global South Financiers Forum, themed "Illuminating Global South," took place from March 19 to 21 in Beijing, China. Hosted by Xinhua News Agency, this significant event brought together officials, heads of financial institutions, and experts from over 30 countries and regions. The forum served as a platform to advocate for enhanced financial collaboration among nations in the Global South, emphasizing mutual prosperity through cooperative efforts.

The Importance of Financial Collaboration

As the Global South accounts for over 40% of the world's collective GDP, it has contributed to nearly 80% of global economic growth in the last two decades. In a time of unprecedented global transformation, characterized by complexity and challenges, the need for stronger financial partnerships has become a unified goal among these nations. Keynote speakers highlighted that countries in the Global South are uniquely equipped to understand the resource scarcity and capacity challenges their peers face.

Inayat Hussain, Executive Director of the State Bank of Pakistan, articulated that South-South cooperation could lead to more effective coordination and a collaborative approach to economic and financial development, benefitting all involved.

Yamile Berra Cires, Vice President of the Central Bank of Cuba, acknowledged the critical need to reform the international financial system and to bolster cooperation among Global South nations based on inclusive strategies and non-discriminatory practices.

China's Role in Financial Development

Throughout the years, the Chinese financial sector has successfully utilized diversified services to create interconnected financial bridges that support the Global South's development goals. The Silk Road Fund, a medium- to long-term investment fund designed to support the financing of the New Silk Road, has committed over $25 billion to 106 projects across more than 70 countries and regions in Asia, Africa, and Latin America over the last decade.

Wang Dan, Executive Vice President of the Silk Road Fund, noted that these investments play a crucial role in promoting high-quality development and sustainable growth within the Global South. Moreover, China continually advocates for green development, sharing green technologies with the Global South through practical initiatives such as the South-South Cooperation Fund, which addresses climate change and integrates green development into their collaborative development agenda.

Envisioning a Future of Win-Win Cooperation

Experts believe that enhancing financial openness, collaboration, and networking among Global South nations can lead to better market integration, optimized resource allocation, and accelerated economic growth. This, in turn, fosters a win-win scenario for all participating countries, aligning with the forum's overarching aim of prosperity for all through diligent and cooperative financial endeavors.

The outcomes of the 2025 Global South Financiers Forum denote a significant step towards a more united and prosperous future for developing countries. As discussions on financial cooperation continue, the commitment to sustainable development and collective growth remains a guiding principle, paving the way for a new chapter in global economic collaboration.