Wang Jingli

wangjingli0715@163.com

ECONOMISTS at home and abroad and representatives from key stock exchanges around the world gathered at the Southern International Forum of Finance and Economics 2021 held Friday in Guangzhou to discuss new strategies for high-quality development.

The forum had three specific sessions designed for global economists, industry and capital market, and global stock exchanges respectively.

Green development was deemed by economists as a crucial factor to promote high-quality development in China’s economy and capital market in the new era.

Liu Shijing, vice director of the China Development Research Foundation, said at the forum that China’s “dual carbon” goals (carbon peaking and carbon neutrality) are a solemn commitment to the world as a responsible country. More importantly, it reflects inherent requirements for the country to achieve a green transformation of its economy and society.

Liu suggested that the achievement of the goals in principle is driven by green technologies while the development of green technologies and its industrialization will also bring in enormous investments.

Renowned economist Jeffrey Sachs via video link shared his views on global green development and collaboration.

Sachs observed that every country has a responsibility to jointly contribute to green development. According to Sachs, without global collaboration, climate change crisis could not be addressed and biodiversity conservation would fail.

He urged the U.S. to show more respect for China and cooperate more with China in sustainable development.

It was also suggested at the forum that the capital market should further propel the high-quality development in the country.

In terms of discussions on the Guangdong-Hong Kong-Macao Greater Bay Area (GBA), Julia Hoggett, chief executive of the London Stock Exchange, observed that the GBA presents a platform to attract international investors for China’s transformation. It can help China to achieve green development goals and to connect with carbon trading platforms in the world.