On April 21st, hosted by the Green Finance Committee of China Society for Finance and Banking (GFC), co-organized by the Center for Eco-financial Studies of Chongyang Institute for Financial Studies at Renmin University of China (RDCY) and the International Institute of Green Finance (IIGF) at the Central University of Finance and Economicsm, the 2018 Annual Meeting of GFC was held in Beijing. Representatives from more than 220 member units of GFC, 70 related units and over 50 media attended the largest green finance meeting in history.

The largest green finance meeting in history was held in Beijing

Fang Xinghai, vice chairman of the China Securities Regulatory Commission, and Liu Shijin, deputy director of the Economic Committee of the Chinese People`s Political Consultative Conference, and Ren Deqi, vice president of the Bank of China, attended the meeting and delivered speeches. Chen Yulu, deputy governor of the People`s Bank of China, extended his warm congratulations and gave several hopes for the development of green finance.

Fang Xinghai, vice chairman of the China Securities Regulatory Commission

Fang Xinghai said that the China Securities Regulatory Commission will continue to strengthen the function of the capital market to support green development in the future. One of the key measures is to reduce the financing costs of green companies.

Liu Shijin, deputy director of the Economic Committee of the Chinese People`s Political Consultative Conference

Liu Shijin said that ecological development need to solve a core problem - the cost accounting of ecological capital, that is, the cost of ecological resources and the efficiency of ecological improvement should be measurable and monetizable.

Ren Deqi, vice president of the Bank of China

Ren Deqi proposed to further intensify innovation in green financial products and services. Green credit is the main means of green financing. It is necessary to continuously increase the product range of green credit, and to explore various types of non-credit financial products and services to form a diversified and comprehensive green financial service system.

Ma Jun, Director of the GFC

Wang Wen, Secretary-General of the GFC and Executive Dean of the RDCY

The opening ceremony of the conference was moderated by Ma Jun, Director of the GFC and Director of the Center for Finance and Development of the National Finance Research Institute of Tsinghua University. Wang Wen, Secretary-General of the GFC and Executive Dean of the RDCY, presided over the session of the Council meeting. Ma Jun made a work report to the Council on behalf of the GFC.

Ma Jun said in the work report that the GFC was established in April 2015. Over the past three years, the GFC and its member units have done a lot of work in promoting green development, and have achieved remarkable achievements in the world. It has become an important  platform for disseminating the concept of green finance, promoting product innovation and international cooperation.

Ma Jun said that in the year of 2018 and the next few years, the main task of the GFC is to actively cooperate with the regulatory authorities to promote the implementation of the policy, so that China`s green financial system can really stimulate a large number of social capital to invest in the green industry, cooperate with local governments to conduct the green financial reform and innovation, and together with other countries and international organizations to develop an international green investment initiative of the "Belt and Road" .

The council meeting also approved the proposal of the GFC on the appointment and removal of deputy directors, deputy secretary-generals and the supplementary of the standing governing units.

The conference also organized six sub-forums, with the theme of "Local Green Finance Innovation and Development", "Belt and Road" Green Investment and International Capital Participation, "Fintech and Green Finance", "Green Finance’s Supporting on Green Buildings," and "Green Finance products Innovation" and "ESG (Environment, Social and Corporate Governance) Investment" respectively. More than 50 experts and scholars from government departments, think-tank institutions, and international and domestic financial institutions spoke at the sub-forums and had lively exchange and discussion with the audience.