China News Service, Guangzhou, December 4 (Reporter Minjie Cai) The 18th International Finance Forum (IFF) Global Annual Meeting (F20 Summit) was held on the 4th in Guangzhou.
Gao Yan, president of the China Council for the Promotion of International Trade, said in a video speech that the current new crown pneumonia epidemic is delaying and spreading, the world economy is difficult to recover, and the growth of global trade and investment is slowing. The phenomenon of "three highs" is particularly worthy of attention, including high energy prices. Under the circumstances, global debt levels have risen and protectionism has risen.
Gao Yan said that opening up financing is the general trend, and all countries must adhere to the concept of cooperation to achieve mutual benefit and win-win results.
Gao Yan said that in the second half of this year, the global energy supply and demand were imbalanced. Many countries lacked coal, electricity, oil and gas. In the third quarter, energy prices rose by 16% from the previous quarter; the total global debt soared to US$281 trillion in 2020. Accounting for 355% of global GDP, the current loose fiscal and monetary policies of major economies are approaching their limits; most countries have intensified their internal tendency, global industrial chains and supply chains have been reshaped, trade frictions have emerged one after another, and foreign investment restrictions and inspections have become stricter.
"However, no matter how the world situation evolves, the general trend of peace and development has not changed, and the general trend of countries seeking openness and cooperation has not changed." Gao Yan said.
The financial industry is the core of the modern economy, and the healthy and stable development of the financial industry is also an important foundation for the national, regional and even global economic development.
As for how to further play the supporting and guaranteeing role of finance, Gao Yan suggested that countries should work together to meet challenges, promote fair competition in the market, and at the same time, conform to the direction of change and promote financial innovation and development.
“Under the epidemic, market players are facing unprecedented pressure. They must focus on the concerns of market players, effectively implement macro policies such as finance and employment, and maintain policy continuity, stability, and sustainability." Gao Yan said, it is necessary to strengthen financial and entity management. Economic support, with particular emphasis on meeting the diversified financial needs of small and micro enterprises, and promoting the improvement of the business environment and financial ecology.
Finance and technological innovation are interdependent and promote together.
Gao Yan suggested that it is necessary to grasp the development opportunities of digital technology and digital economy, and promote the development of financial products and services in the direction of informatization, digitization, networking, and intelligence; focusing on the broad and profound "carbon peak" and "carbon neutrality" The economic and social systemic changes in the country, the overall planning of environmental protection and economic development, and the establishment of financial support tools for carbon emission reduction.
Openness and financing is the general trend, and mutual benefit and win-win are the common aspirations.
Gao Yan believes that it is necessary to strengthen international macro policy coordination, deepen cooperation in the financial field, so that more countries and people can share the fruits of financial innovation and economic growth, deepen bilateral and multilateral regional cooperation, promote trade and investment liberalization and facilitation, and promote the global economy Governance is developing in a more just and reasonable direction, and jointly building an open world economy.