On the eve of the G20 Summit in Hangzhou, the 13^th Annual Global Conference of the International Finance Forum (IFF) was grandly opened in Shanghai on September 1, 2016 with the theme “F20 Initiative: Reshaping the Essence of Finance”. UN Secretary-General Ban Ki-moon sent a video message. The President of the International Finance Forum (IFF) and the 26^th Australian Prime Minister Kevin Rudd formally announced the “F20 Initiative” declaration on behalf of all members of the International Finance Forum (IFF).
 

IFF co-chairman, former South Korean Prime Minister, President of the 56^th UN General Assembly Han Seung-woo; Chairman of the IFF Advisory Committee, former Japanese Prime Minister Yukio Hatoyama; Chairman of the IFF Comprehensive Sustainable Development Council, former New Zealand Prime Minister Jenny Shipley; IFF Co-Chairman of the Foundation, His Royal Highness Prince Turki, CEO of the Saudi King Foundation; IFF Executive Committee, Vice Chairman of the Shanghai CPPCC Zhou Hanmin; IFF Consultant, Vice Chairman of Morgan Stanley, former Italian Finance Minister Domenico Siniskarko, etc. The main leaders and members of IFF attended the opening ceremony and delivered a speech.
 

Ban Ki-moon said that in the context of weak global demand and large economic fluctuations, countries need to stimulate policies and structural reforms to achieve sustainable growth. The F20 initiative is dedicated to reshaping the essence of finance and is extremely leading the way.
 

Kevin Rudd highly praised the annual bilingual China Report jointly published by the International Finance Forum (IFF) and the British "Central Bank" journal. He pointed out that an important topic discussed at this annual meeting is how the F20 should link banks, the financial sector and the private sector from more than 20 largest economies to help and promote the G20 agenda.
 

Han Shengyu expects that the F20 initiative announced at this annual meeting will promote global trade exchanges and capital circulation, support the construction of the Silk Road, and become a link connecting the East and West economies. And hope that IFF can help build a world economy of innovation, vitality, linkage and tolerance by strengthening financial dialogue, promoting financial cooperation and supporting financial supervision.
 

Yukio Hatoyama believes that the F20 initiative is very much in line with the trend of the times. He hopes that the F20 mechanism established this time will always adhere to the spirit of openness and tolerance, and promote the interaction, exchange and cooperation between the public and private sectors. Representatives from the community jointly drafted recommendations to implement the initiatives.

Jenny Shipley said that to maintain confidence in the financial framework, it must be human-centered and cannot separate the interests of the private sector from the public interest. In addition, the F20 is able to bring together all those facing the same challenges and discuss how to deal with them, and IFF is a platform for this kind of active dialogue.

Zhou Hanmin pointed out that the real economy and finance are mutually reinforcing and mutually supportive. Only by promoting the return to the financial essence can we serve the real economy and fundamentally promote global economic recovery and sustainable development. How to rely on the global network to promote economic development, integrate the regional core to establish a global open network, accelerate the reform of the financial system, and revitalize international trade and investment. The answers to these questions are still being sought, which is one of the main purposes of launching the F20 initiative.

At the launching ceremony of the F20, all members of the International Finance Forum (IFF) jointly issued 11 F20 initiatives to the world: establishing a global network of F20, reshaping the essence of finance, promoting new impetus for global governance, and extensively conducting national and regional financial cooperation dialogues to bring China into play. Role with emerging economies, promote the establishment of a global green financial system, actively promote the development of inclusive finance, financial innovation should promote growth, actively support the Silk Road initiative and action, create the International Finance Forum (IFF) Research Institute, create an international financial forum (IFF) College.

In the next two days, the forum will also focus on “strengthening macroeconomic policy cooperation”, “revitalizing international trade and investment”, “supply-side structural reform and new balance”, “digital finance: governance and supervision”, and “British Brexit: A series of specific topics such as “stability and the future” and “social capital participation in the development model of the Belt and Road” will be discussed. Vice Chairman of IFF, Deputy Director of the NPC Financial and Economic Committee, Sheng Sheng resistance; IFF Director, Chairman of the European 50 Group, former French Finance Minister Edmund Alfon Daly; IFF Consultant, Chairman of the US-China Relations Committee Karas Hills; China He Yafei, former deputy minister of the Ministry of Foreign Affairs, Zhang Xinxin, president of China News Agency, Li Dongrong, president of China Internet Finance Association, and other political figures, experts and scholars, and industry leaders will attend the forum and participate in the discussion.