BEIJING, March 22 (Xinhua) -- The Parallel Forum on Inclusive Finance and Approaches to New Energy Industrialization Development was held in Beijing on March 20.
As a side event of the 2025 Global South Financiers Forum, the forum, hosted by the Brand Work Office of Xinhua News Agency, China Economic Information Service, and Shanxi Branch of Xinhua News Agency, fostered diverse dialogues and exchanges under the theme of "Inclusive Finance and Approaches to New Energy Industrialization Development", sharing experience and building consensus.
The photo shows the site of the Parallel Forum on Inclusive Finance and Approaches to New Energy Industrialization Development.
Klaus-Dieter Kaempfer, Chief Executive of Absa China, highlighted Absa's efforts in driving economic growth across 12 African markets over 130 years. Absa established a non-banking subsidiary in Beijing a year ago to support Chinese enterprises and investors in exploring African markets. Meanwhile, he emphasized Absa's commitment to leveraging opportunities in the Global South and working with various parties to turn the region into a key driver of the global economy.
China has become the world's largest producer of electric vehicles, while Indonesia is also intensifying efforts in the regard, noted Mohammad Faisal, Executive Director of the Center of Reform on Economics (CORE Indonesia). CORE Indonesia has been conducting research in this field as an economic think tank, but considering the significant challenges faced by developing countries in promoting green energy and green industrialization, this forum serves as a valuable platform for mutual learning and experience sharing.
Lyuliang is leveraging its industrial strengths to foster new quality productive forces in the energy sector amidst green and sustainable development, according to Xiong Yizhi, mayor of Lyuliang City. By introducing favorable policies and innovative financial products, Lyuliang has accelerated its new energy industry development, with new energy installation capacity now accounting for over 30 percent of its total.
Zheng Peng, Chairman and President of Pengfei Group, delivered a keynote speech on the company's effort in green development. As one of China's top 500 enterprises, it follows China's dual carbon goals and Shanxi's hydrogen energy development plan. It has established the Pengwan hydrogen port industrial park, achieving breakthroughs in hydrogen production and equipment manufacturing.
During the event, China Economic Information Service unveiled the China (Xiaoyi, Lyuliang) Hydrogen Energy High-quality Development Index Report during the event. The index, which monitors high-quality hydrogen energy development at both national and local levels, showed steady growth from 2021 to 2023. By 2023, the index reached 167.28 points, a 35.51 percent year-on-year increase.
Besides, a roundtable session of the forum brought together renowned financiers and government representatives to explore the role and mechanism of inclusive finance in advancing new energy industrialization. The panelists analyzed the financial needs of the new energy sector and proposed innovative strategies to support its growth.
The forum pooled wisdom to better exert inclusive finance in the new energy industry development and charted a course for the leapfrog development of the sector with enhanced financial support.
(Edited by Yang Linlin with Xinhua Silk Road, linlinyanglyn@163.com)
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