On May 18, Green Finance Committee of China Society for Finance and Banking (GFC) held a council elections in Beijing, and along with Chongyang Institute for Financial Studies (RDCY), the International Institute of Green Finance (IIGF) at the Central University of Finance and Economicsm, International Green Finance Development Research Center of Tsinghua university, jointly hosted the 2019 annual meeting of GFC and China's green financial forum. Representatives from more than 220 GFC members, 70 related organizations and more than 70 media attended the meeting. This is the fourth year in a row that the GFC has held its annual meeting.

Wang Xin, secretary-general of the China Society for Finance and Banking and director of the research bureau of the People's Bank of China, presided over the election of the general election of the committee in which there were elected the director, deputy director, secretary general and deputy secretary general of the second committee. Ma Jun, a member of the central bank's monetary policy committee and director of the green finance development research center at Tsinghua university, was re-elected director of the green finance committee.

Chen Yulu, deputy governor of the people's bank of China, delivered a written speech at the annual meeting. Yin Yong, member of the standing committee of the Beijing municipal committee and deputy mayor, and Liu Liange, vice-chairman and President of the bank of China, attended the meeting and made a speech.

The president of bank, Chen Yulu, expressed her idea in speech that China has led the world in terms of progress of green finance, which plays a proactive role in preventing pollution, realizing rural revitalization and facilitating green transformation of economy and society. The ultimate goal of green finance is to better serve green transformation of economy and society in an effort to make real economy stay on a track of high-quality development. If we want to usher in a good future, we need to focus on high-quality development of green finance and contribute to four aspects.

First, we should strengthen our research on green finance theory and lay solid foundation for its progress. Second, we should vigorously build a standardized system that allows green finance to develop in a sound way. Third, deepened product and service innovation is a must for sustainable development of green finance. Forth, it makes sense that we need to unremittingly cement international cooperation and highlight our leading role in this field.

Practice requires us to deepen regular understanding of developing green finance under new circumstances in four aspects including combination of serving real economy and effectively preventing risks, leveraging the government and market, consolidating top-level design of the central government and bringing subjective enthusiasm of sub-nationals into full play. The last point is to remain committed to making sustained progress based on national conditions and conforming to international perfect and successful stories.

Yin Yong said that this annual meeting has delivered many research results and carried out exchanges of multi-level experiences, which helps further rally consensus of green finance development and serve examples for green progress of Beijing. As Beijing lays emphasis on clean energy, sewage and trash governance, atmosphere pollution prevention, transit transportation development, it will strive to improve the scale of financial market, deepen exploration and innovation of green finance.

Led by green finance, Beijing will raise development and reform to a new level to secure premium development of finance. One solution lies in deepening green finance reform and innovation. Second, we should serve international cooperation of green finance. Third, pilot project of green finance is a necessity to us. At last, we need to optimize the environment of green finance.

Liu Liange thought that our green financial system has undergone a period of fast growth, making it become a key contributor, promoter and beneficiary of global green financial development. As the bank boasting the highest level of globalization and integration, Bank of China sticks to the sustained development and vigorously develops green finance.

The first way is to be guided by top-level design to facilitate green finance progress from a strategic perspective. The second way is to fuel innovation-oriented green industry. Characterized by cross-border services, two-way openness of green finance is also important. For years to come, Bank of China will insist on green development, fully leverage advantages of globalization and comprehensive operation to pursue innovation-based progress and mutually beneficial cooperation along with various sectors. Such efforts will jointly make our green financial development yield continuous results.

Ma Jun pointed out in the first work report of the council of the green finance committee that over the past four years, under the leadership of the People's Bank of China, relevant ministries and commissions and the China institute of finance, the green finance committee and its members have done a lot of work in green finance research including dissemination of green finance concepts and promotion of international cooperation. The GFC has organized more than 20 research groups and working groups, published more than a dozen important results every year, participated in many policy studies, promoted the innovation of several products, methods and tools, and supported the implementation of local pilot projects of green finance.

The green finance series of the green finance committee has published 11 monographs, and the WeChat public account of the green finance committee has published more than 1,000 articles. In the light of international cooperation, the green finance committee presided over the China-Britain green finance working group, and supported the G20 financial team work and central green financial network. Together with London, it has launched a " green investment principle of BRI". There are 13 countries or regions and 28 large institutions having signed the principle, vigorously promoting China's international influence in the field of green finance.

At the annual meeting, the GFC and its members released a number of results, including:“One Belt and One Road" green investment principles”, “Research on environmental risk responsibility of multi-liability subjects”, “Green financing main body standard research” report, “Research on green finance supporting green technology innovation”. etc.

In the forum, sixty experts and scholars from People's Bank of China, China Banking Regulatory Commission, Ministry of Ecological and Environment, Chinese Securities Regulatory Commission (CSRC), Beijing financial supervision and regulation department and other organizations, have carried out candid and enthusiastic discussion and exchange.