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Beijing International Finance Forum Kicks off to Address Challenges in the Financial Crisis and Revitalize World Economy in a New Financial Framework 2009
14 November 2009, Beijing – Leaders of the world’s major financial institutions, governments and non-governmental organizations are gathering in Beijing this weekend for the 6th International Finance Forum (IFF). The long list of key international figures, including Nobel Laureates and former heads of governments, are coming together at the high-level forum to address the revitalization of the world economy in the wake of the financial crisis and the creation of a new global economic framework for the future. The occasion also marks the official establishment of the IFF Secretariat as an independent incorporated entity – the IFF is only the second international forum in China to attain this designation, after the Boao Forum.
Mr. Cheng Siwei, President of the International Finance Forum emphasized the IFF’s capacity to serve as a platform supporting world financial leaders to contribute to the revitalization of the international economy collectively. He stressed that by providing an arena for discussing recovery and reform packages, the IFF can help develop the needed communication and cooperation in the financial sector.
The need to establish a more sustainable global economy, especially one that takes into consideration the environment, developing economies, and those living in poverty prominently feature in this year’s forum. Stressing the importance of incorporating poverty reduction into recovery and reform efforts, Mr. Khalid Malik, UN Resident Coordinator and UNDP Resident Representative expressed his hope that the IFF would take advantage of this opportunity to influence that the economic recovery “lays the foundations for green and low carbon development as well as supports more inclusive economic growth.”
“While the impact of the crisis has been felt across the board, we must realize the dramatic impact it is having on those who are poorest and most vulnerable amongst us - those who the Millennium Development Goals seek to lift from poverty by 2015,” he said.
The Forum is being hosted by the Beijing Municipal Government, the People’s Bank of China, the China Banking Regulatory Commission, the China Securities Regulatory Commission, and the China Insurance Regulatory Commission, co-hosted by the United Nations system in China and the UN Development Programme in China, and supported by the Reinventing Breton Woods Committee and the Euro 50 Group. Over 100 national and international economic, political and financial leaders are participating over the course of the weekend. Discussions will also address key questions about China’s leadership role in the global economy’s financial recovery and the kinds of impetus needed to secure economic growth in the future.
During the Forum, the IFF Secretariat and the United Nations system in China signed an agreement establishing a strategic partnership for joint efforts for support poverty alleviation within the new international financial order.
Ambassadors to China from more than 20 countries will be also present, along with the leaders of various central banks and financial institutions from around the world and representatives from the People’s Bank of China, the China Banking Regulatory Commission, the China Securities Regulatory Commission and the China Insurance Regulatory Commission attended the Forum.
Several key individuals from the Chinese government attended the Forum, including Mr. Li Guixian, Member of the 16th CPC Central Committee and President of the Executive Board of the IFF. The extensive speakers list includes Mr. Han Seung-Soo, Former Prime Minister of South Korea, Mr. Shaukat Aziz, Former Prime Minister of Pakistan, Ms. Jenny Shipley, Former Prime Minister of New Zealand, Mr. Dominique Strauss-Kahn, Managing Director of IMF, Mr. Robert Mundell, Nobel Prize Laureate in Economics and other global leaders in business and governments.
After six years, the International Finance Forum is widely recognized as a platform for global communication and cooperation with its growing influence on the financial world. As a newly established independent body, its influence will continue to grow as the world emerges from the global financial crisis and a new economic framework is established for the future.
For more information on the IFF, please log on to its official website: http://www.ifforum.org/cn/index.aspx
For media accreditations, please contact:
Ms. Kelly Chen, New Alliance, at 010-6530 5011-1278, or 13683519913, email: Kelly@alliance.com.cn
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