From April 1st to 3rd, 2024, the G20 Sustainable Finance Working Group (SFWG), jointly chaired by the People's Bank of China and the U.S. Department of the Treasury, held its meeting in Brasília, the capital of Brazil.
This meeting focused on financial instruments, sources of financing, existing obstacles, and sustainable urban development plans. Invited by the People's Bank of China, Guangzhou, as the sole representative of Chinese cities, they participated in the roundtable meeting concerning using finance to facilitate sustainable urban development on April 3rd.
The roundtable was chaired by Wang Xin, Director-General of the Research Bureau of the People's Bank of China. During the event, Meng Hao, Deputy Secretary-General of the Guangzhou Municipal Government, shared cases from various perspectives including the current status, issues, financial support strategies, paths, and tools for the transformation of urban villages in Guangzhou. He introduced the experiences and achievements of Guangzhou's financial support for urban sustainable development. The participants from other G20 countries engaged in extensive discussions on innovative financing mechanisms, such as blended finance, municipal bonds, and public-private partnerships, to promote the achievement of urban sustainable development goals. They also shared their insights on the construction of sustainable financial mechanisms, data sharing, and international cooperation. Attendees commended Guangzhou's practices and shared relevant information from their respective fields.
Wang Xin stated that in recent years, Guangzhou has actively made explorations in the field of green finance, providing valuable experiences for both China and the international community. He hoped that Guangzhou would continue its efforts in this area, further engage in international exchanges, and provide more reference and guidance for achieving global sustainable development goals by providing financial support.
This participation further strengthened Guangzhou's presence in international exchanges and cooperation in the financial sector. By attending this significant international conference, Guangzhou has voiced its perspectives and showcased its positive image, thereby enhancing the global influence of its innovative development in green finance.