Draft:International Finance Forum

• Comment: This draft largely just documents the occurrence of their meetings, it doesn't summarize significant coverage of this organization that shows how it meets WP:ORG. 331dot (talk) 06:37, 28 August 2024 (UTC)

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The International Finance Forum (IFF) is a nonprofit, unofficial, independent international organization founded jointly in Beijing in October 2003 by the leaders of China, the United States, the European Union, and other G20 countries and emerging economies, as well as related international organizations such as the United Nations (UN), the World Bank, and the International Monetary Fund (IMF). The IFF serves as a platform for dialogue and cooperation in the field of global finance, often referred to as the "Finance 20" or "F20." It has global centers in Beijing, Shanghai, Guangzhou, Hong Kong, Singapore, Tokyo, London, Paris, Geneva, Washington DC, and New York.

In September 2023, in response to the international financial situation and needs at the time, the IFF launched a preparatory initiative. Previously, the IFF had received a positive response from the late former UN Secretary-General Kofi Annan, and this latest initiative was welcomed by former Canadian Prime Minister Jean Chrétien, former US President Bill Clinton, and various relevant Chinese government departments, UN system agencies, relevant international economic organizations, and global financial leaders. In the subsequent development of this initiative, it continued to be joined or supported by more than 200 global political and financial leaders, including former UN Secretary-General Ban Ki-moon, current UN Secretary-General Antonio Guterres, former British Prime Minister Tony Blair, former New Zealand Prime Minister Jenny Shipley, and former South Korean Prime Minister Han Seung-soo. Former Pakistani Prime Minister Shaukat Aziz, Honorary President of the European Council and former Belgian Prime Minister Herman Van Rompuy, former President of the European Commission and former Portuguese Prime Minister José Manuel Durão Barroso, IMF Managing Director Christine Lagarde, and UN Conference on Trade and Development (UNCTAD) Secretary-General Supachai Panitchpakdi also indicated their support.

Locations

The IFF is headquartered in Beijing, capital of the People's Republic of China. It also has a permanent location at Nansha International Financial Island in Guangzhou, capital of Guangdong Province in the People’s Republic of China, and international business headquarters in the Hong Kong Special Administrative Region of the People’s Republic of China. In addition to these three locations, the also IFF has Global Centers in Shanghai, Singapore, Tokyo, London, Paris, Geneva, Washington DC, and New York.

Social Influence

Since its establishment, the IFF has held an annual meeting every year, with the background being the international economic and financial situation and the central topic being finance and the analysis of and solutions for problems facing the Chinese and global economies. These annual meetings are geared toward the international finance community and the field of global finance, and are often referred to as ‘F20’ gatherings, attracting hundreds of politicians and financial leaders from all over the world. Past attendees include former UN Secretary-Generals Kofi Annan and Ban Ki-moon, former Australian Prime Minister Kevin Rudd, former ECB President Jean-Claude Trichet, former Japanese Prime Minister Yukio Hatoyama, His Royal Highness Prince Turki bin Abdullah Al Saud of Saudi Arabia, former British Prime Minister Tony Blair, former New Zealand Prime Minister Jenny Shipley, former South Korean Prime Minister Han Seung-soo, former Federal Reserve Chairman Paul Volcker, former UNCTAD Secretary-General Supachai Panitchpakdi, former IMF Managing Director Christine Lagarde, and former President of the Bank for International Settlements Jaime Caruana. These annual meetings seek to impact the field of international finance and global policy dialog while also becoming a reference for the formulation of economic and financial policies. Chinese national leaders Xi Jinping, Wen Jiabao, Wang Qishan, and others have also met with relevant guests at these meetings.

International speakers at these annual IFF meetings tend to be heads of their international organizations or institutions as well as senior figures in the international financial community, while Chinese speakers are mostly heads of financial regulatory departments and financial institutions.

The IFF’s high-end dialog model reflects its international characteristics and its efforts explore new drivers of world growth.

History and Mission

The IFF was created to facilitate global financial strategic dialogue, exchange, and cooperation. It aims to promote financial services worldwide and support comprehensive, sustainable development. According to António Guterres, Secretary-General of the United Nations, a core part of the IFF’s mission is to “transform the international financial architecture to serve the needs of today so that it contributes to reducing inequalities and restoring trust between developed countries and emerging economies.”

The purpose of the IFF is to establish a platform for global financial strategic dialogue, exchange and cooperation, practical innovation, academic research, and talent cultivation through an international, market-oriented, and professional operating mechanism, promote financial services to the world, and promote comprehensive, sustainable, and high-quality development. From its founding until the present, the IFF has maintained close ties with the leaders of countries and regions, international and regional organizations, and global financial institutions. Over 5,000 special guests from around the world and over 100,000 global industry elites have participated in the IFF's annual meetings and related activities. The IFF’s purpose is to play a role in promoting international financial strategic dialogue, exchanges and cooperation, and academic research, and it has achieved broad international influence.

Activities and Initiatives

Since its inception, the IFF has engaged with over 100 countries and regions, maintaining connections with numerous international and regional organizations. It hosts annual meetings that attract thousands of participants, including global financial leaders and industry experts. These gatherings focus on promoting strategic dialogue and innovative solutions in finance. Kevin Rudd, former Prime Minister of Australia and Co-Chair of the IFF, notes that “As a high-end platform, the IFF has close ties with financial, economic, and political leaders as well as experts and scholars, and plays a key role in direct financial diplomacy.”

On June 1, 2017, the IFF signed a Strategic Partnership Agreement with the Guangzhou Nansha Development Zone Committee, marking the official launch of the Nansha International Financial Island and the official establishment of the IFF’s permanent location in Guangzhou's Nansha District.

The IFF has launched several initiatives, including the Global Green Finance Award, which recognizes achievements in green finance, and the Belt and Road International Cooperation Award, aimed at fostering international collaboration aligned with the Belt and Road Initiative.

Organizational Structure

The IFF's leadership includes prominent figures from global finance and politics. Notable past leaders have included Han Seung-soo, Jenny Shipley, and Paul Volcker. The current leadership continues to guide the organization's strategic direction and initiatives.

Global Influence

The IFF is recognized for its role in fostering international financial cooperation and dialogue. It has been acknowledged by various global leaders and institutions for its contributions to financial policy and development. The organization's efforts align with global goals for sustainable economic growth and improved financial systems.

Annual Meetings and Other Notable Events

In October 2003, the IFF held its 1st annual meeting in Beijing with the theme ‘Financial Globalization and China's Financial Reform’ and officially released a global initiative.

In November 2004, the IFF held its 2nd annual meeting in Beijing, with the theme ‘Financial Development and Financial Governance Structure’ and issued the ‘IFF Declaration’ outlining the organization's future mission and objectives.

In 2005, the IFF participated in the G20 and held the ‘Rebuilding the Bretton Woods System’ meeting.

In September 2006, the IFF held its 3rd annual meeting in Beijing with the theme ‘New Patterns of China's Financial Opening’ and issued the report ‘New Patterns of China's Financial Opening’.

In November 2007, the IFF held its 4th annual global meeting in Beijing with the theme ‘Financial Globalization: Opportunities and Challenges’. The ‘IFF Global Strategic Library’ was also officially established and published at this time.

In November 2008, the IFF held its 5th annual meeting in Beijing with the theme ‘Global Financial Turbulence: The Impact on the World and China’ in response to the ongoing global financial crisis, and made preparations to establish the academic journal ‘IFF’.

In November 2009, the IFF held its 6th annual meeting in Beijing with the theme ‘Transformation and Revitalization after the Global Financial Crisis’, signed a strategic cooperation memorandum with the United Nations Development Program (UNDP) and established a comprehensive strategic partnership, and jointly established the IFF International Advisory Committee, with 25 global financial leaders as members.

In November 2010, the IFF held its 7th annual meeting in Beijing with the theme ‘International Finance in the Post-Crisis Era’ and prepared to establish the IFF Research Institute for the purpose of creating an international and professional strategic think tank.

In November 2011, the IFF held its 8th annual meeting in Beijing with the theme ‘New Global Financial Framework: Transformation and Impact’, receiving strong support from Chinese and international leaders.

In November 2012, the IFF held its 9th annual meeting in Beijing with the theme ‘Changes in the World Economic Pattern and Global Financial Reform’. In May of the same year, the 2012 Paul Volcker Dialogue was held in Shanghai.

In December 2013, the IFF held its 10th annual meeting in Beijing with the theme ‘Restarting Reform: The Future of the World and China’ and prepared to build the IFF Global Center.

In November 2014, the IFF held its 11th annual meeting in Beijing with the theme ‘Improving the New International Financial Pattern’. In the same year, the IFF also held six leadership dialogues.

In November 2015, the IFF held its 12th annual meeting in Beijing with the theme ‘New Driving Force for World Growth’. In the same year, it co-published the ‘International Financial Forum 2015 China Report’ with the British magazine ‘Central Bank’ and held press conferences in Hong Kong, London, and Washington.

In September 2016, the IFF held its 13th annual meeting in Shanghai with the theme ‘F20 Initiative: Reshaping the Essence of Finance’, published the ‘International Finance Forum 2016 China Report’, and launched the ‘F20 Initiative’ and ‘Silk Road International Alliance (SRIA) Initiative’ with the support of the UN.

In November 2017, the IFF held its 14th annual meeting in Guangzhou with the theme ‘Construction of the Greater Bay Area: New Power, New Growth, New Patterns’ and officially opened the IFF’s permanent venue. In the same year, the IFF held the first SRIA Conference, marking the official establishment of the SRIA.

In November 2018, the IFF held its 15th annual meeting in Guangzhou with the theme ‘New Globalization: The Road Ahead’ and released a five-year survey report on the Belt and Road Initiative. In the same year, the IFF also held the 2nd SRIA Conference.

In November 2019, the IFF held its 16th annual meeting in Guangzhou with the theme ‘Global Stability: New Changes, New Development’ and also held the 3rd SRIA Conference at the same time.

In November 2020, the IFF held its 17th annual meeting in Nansha, Guangzhou with the theme ‘Comprehensive Sustainable Development - Discussing Cooperation and Crisis Response’ in response to the COVID-19 pandemic and the accompanying economic and financial crisis, and it also held the 4th SRIA Conference at the same time. It also released the 1st IFF Global Green Finance Award.

In May 2021, the IFF held its 2021 spring meeting in Beijing with the theme "Post-Pandemic Era: Global Governance and International Cooperation", and it also held the 5th SRIA Conference at the same time. In November 2021, the IFF held its 18th annual meeting in Nansha, Guangzhou with the theme "Sustainable Development under Global Challenges - Competition, Change, and Cooperation", and released the 2nd Global Green Finance Award at the same time.

In April 2022, the IFF held its 2022 spring meeting in Beijing with the theme 'The New Global Situation: Challenges and Responses'.

In December 2022, the Bretton Woods Committee announced that it would be forming a partnership with the IFF to more effectively tackle challenges facing the global economy and financial landscape.

In October 2023, the IFF held its annual meeting marking its 20th anniversary in Nansha, Guangzhou with the theme ‘New Capital, New Value, New World: Revitalization and Cooperation in Light of the Fragmentation of the Global Economy’, and it also held the 7th SRIA Conference at the same time. This summit attracted numerous international leaders and highlighted the IFF's pivotal role in global finance.

Previous Leadership

1st Term (2003-2008) Chair: Cheng Siwei, Vice Chairman of the Standing Committee of the 9th and 10th National People's Congress of China Co-Chairs: Robert Mundell, Father of the Euro and Nobel Prize winner in Economics Maurice Strong, Deputy Secretary-General of the United Nations and first Director of the United Nations Environment Programme Secretary-General: Zhang Jizhong, Founding Secretary-General and CEO of the IFF

2nd Term (2008-2013) Chair: Cheng Siwei, Vice Chairman of the Standing Committee of the 9th and 10th National People's Congress of China Co-Chairs: Robert Mundell, father of the euro and Nobel Prize winner in economics Paul Volcker, former Chairman of the Federal Reserve of the United States and Chairman of the President's Economic Recovery Advisory Board Council Chair: Li Guixian, former State Councilor of China, former Vice Chairman of the National Committee of the Chinese People's Political Consultative Conference, and former Governor of the People's Bank of China Executive Vice Chairs/Vice Chairs: Dai Xianglong, former Governor of the People's Bank of China and Chairman of the National Council for Social Security Fund Jin Liqun, Chairman of the Supervisory Board of the China Investment Corporation and Chairman of the China International Capital Corporation Roderick Hills, former Chairman of the Securities and Exchange Commission of the United States Edmond Alphandéry, Chairman of the Euro 50 Group and former French Finance Minister Chairs of the IFF Advisory Board: Leo Melamed, father of world financial futures and founding chairman of the Chicago Mercantile Exchange Han Seung-soo, former President of South Korea and President of the 56th United Nations General Assembly (concurrently) Secretary-General: Zhang Jizhong, founding Secretary-General and CEO of the IFF

3rd Term (2013-2018) Chairs: Cheng Siwei, Vice Chairman of the Standing Committee of the 9th and 10th National People's Congress of China Kevin Rudd, former Prime Minister of Australia Honorary Chair: Paul Volcker, former Chairman of the Federal Reserve of the United States and Chairman of the President's Economic Recovery Advisory Board Co-Chairs: Kevin Rudd, former Prime Minister of Australia Han Seung-soo, former President of South Korea and President of the 56th United Nations General Assembly (concurrently) Jean-Claude Trichet, Chairman of the Group of Thirty and former President of the European Central Bank (ECB) Shaukat Aziz, former Prime Minister of Pakistan Council Chair: Han Seung-soo, former President of South Korea and President of the 56th United Nations General Assembly (concurrently) Executive Vice Chairs/Vice Chairs: Jin Liqun, Chairman of China International Capital Corporation, Secretary General and President-elect of the Multilateral Interim Secretariat of the Asian Infrastructure Investment Bank Gu Shengzu, Deputy Director of the Financial and Economic Committee of the National People's Congress, and Vice Chairman of the National Committee of the Chinese People's Political Consultative Conference Edmond Alphandéry, Chairman of the Euro 50 Group, former French Finance Minister Charles Dallara, former President of the Institute of International Finance (IIF) Chairman of the IFF Advisory Board: Yukio Hatoyama, former Prime Minister of Japan, Chair of the East Asian Community Institute Chair of the IFF Sustainable Development Council: Jenny Shipley, former Prime Minister of New Zealand Secretary General: Zhang Jizhong, Founding Secretary General and CEO of the IFF

4th Term (2018-2023) Chair: Zhou Xiaochuan, former Vice Chairman of the National Committee of the Chinese People's Political Consultative Conference and former Governor of the People's Bank of China Co-Chairs: Kevin Rudd, former Prime Minister of Australia Herman Van Rompuy, first President of the European Council and former Prime Minister of Belgium José Manuel Durão Barroso, former President of the European Commission and former Prime Minister of Portugal Han Seung-soo, Chairman of the Council of Presidents of the United Nations General Assembly and former President of South Korea Shaukat Aziz, former Prime Minister of Pakistan Chairman of the Board: Han Seung-soo, Chairman of the Council of Presidents of the United Nations General Assembly and former President of South Korea (concurrently) Vice-Chairmen: Edmond Alphandéry, Chairman of the Euro 50 Group and former Finance Minister of France Zhu Xian, former Vice President of the World Bank and former Vice President of the New Development Bank (2021.7- ) Lin Jianhai, former Secretary-General of the IMF (2021.9- ) IFF Advisory Board Chairman: Jean-Claude Trichet, Chairman of the G30 and former President of the ECB IFF Sustainable Development Council Chairman: Jenny Shipley, former Prime Minister of New Zealand Secretary-General: Zhang Jizhong, Co-founder and Founding Secretary-General of the IFF Zhu Xian, Vice Chairman and Secretary-General of the IFF (2021.7- ), former Vice President of the World Bank and former Vice President of the New Development Bank

Current Leadership

Han Seung-soo, Co-Chairman and Council Chair of the IFF, Chairman of the Council of Presidents of the United Nations General Assembly, and former President of South Korea Jenny Shipley, Chair of the IFF Sustainable Development Council, 36th Prime Minister of New Zealand Vice Chairs: Edmond Alphandéry, former French Finance Minister and Chairman of the European Carbon Pricing Task Force Paul Chan, Financial Secretary of the Hong Kong Special Administrative Region of China Antony Leung, former Financial Secretary of the Hong Kong Special Administrative Region of China and Chief Executive Officer of Nan Fung Group Mari Elka Pangestu, former Managing Director of the World Bank and former Minister of Commerce of Indonesia Domenico Siniscalco, Vice Chairman of Morgan Stanley International and former Minister of Finance of Italy Erik Solheim, former Under-Secretary-General of the United Nations and Executive Director of the United Nations Environment Programme José Viñals, Chairman of Standard Chartered Bank Group Yi Xiaozhun, former Deputy Director-General of the World Trade Organization (WTO) Zhu Xian, former Vice President of the World Bank and former Vice President of the New Development Bank Vice-Council Chairs: Lin Jianhai, former Secretary General of the IMF Deborah Lehr, Vice Chairman and President of the Paulson Institute Gerry Rice, former spokesperson for the IMF and the World Bank Siddhartha Tiwari, former Chief Representative for Asia and the Pacific of the Bank for International Settlements (BIS) Zhou Yanli, former Vice Chairman of the China Insurance Regulatory Commission Zhou Hanmin, member of the Standing Committee of the National Committee of the Chinese People's Political Consultative Conference and former Vice Chairman of the Shanghai Municipal Committee of the Chinese People's Political Consultative Conference Leong Vai Tac, former Director of the Economic and Financial Affairs Bureau of the Macao Special Administrative Region of China Directors: Gloria Macapagal-Arroyo, former President of the Philippines and former Speaker of the House of Representatives of the Philippines Ernesto Zedillo, former President of Mexico and Chairman of the 21st Century Council Mehmet Simshek, Minister of Finance of Turkey and former Prime Minister of Turkey Laurent Fabius, Chairman of the Constitutional Council of France, former Prime Minister of France, former Speaker of the Parliament and President of COP21 Kairat Klimbetov, former Chairman of the Agency for Strategic Planning and Reform of the Republic of Kazakhstan, former Chairman of the Astana International Financial Centre and former Deputy Prime Minister of Kazakhstan Jean-Claude Trichet, former President of the ECB Sultan bin Nasser Al Suwaidi, former Governor of the Central Bank of the United Arab Emirates Yasser Elnaggar, former Deputy Minister of Investment of Egypt, former Deputy Minister of Planning of Egypt, EN CEO of investment consulting company Stephen Grove, CEO of the Saudi Arabia National Development Fund Frank Rijsberman, Director General of the Global Green Growth Institute (GGGI) David Wright, Vice Chairman of Barclays Capital in the UK Bryan Pascoe, CEO of International Capital Market Association (ICMA) Takehiko Nakao, former President of the Asian Development Bank and Chairman of the Mizuho Research Institute in Japan Vera Songwe, former Deputy Secretary-General of the United Nations and former Executive Secretary of the United Nations Economic Commission for Africa Zafar Uddin Mahmood, former Special Assistant to the Prime Minister of Pakistan and the first Special Envoy of the China-Pakistan Economic Corridor Axel Weber, former Chairman of UBS Group and former President of Deutsche Bundesbank Barry Melancon, President and CEO of the American Institute of Certified Public Accountants and CEO of the Association of International Certified Professional Accountants (AICPA & CIMA) Li Jih-chu, Vice Chairman of Taiwan Financial Holdings Co., Ltd., Taiwan, China Li Tong, Vice President of BOC International Holdings Co., Ltd. Samuel Yung, Deputy Director of the Economic Committee of the National Committee of the Chinese People's Political Consultative Conference and Chairman of the Hong Kong Examinations and Assessment Authority Ip Sio Kai, Chairman of the Macau Association of Banks Ma Zhigang, Chairman and CEO of GoTop Investment Capital Group, Hong Kong, China Kevin Ho King Lun, Chairman of The Industry and Commerce Association of Macau, China Xiao Zhiwei, Chairman of the Macau Development Strategy Research Center, China Li Shan, Chairman of the IFF Wealth Management Committee and Member of the United Nations Investment Committee Peng Huagang, Co-Chairman of the IFF ESG Committee and Chairman of the China Enterprise Reform and Development Society Wang Siqiang, Co-Chairman of the IFF Energy Transformation and Development Committee and Chairman of the China Electric Power Construction Association

IFF Awards

IFF Global Green Finance Award

In 2020, the IFF established the IFF Global Green Finance Award in 2020 to commend and reward institutions and innovative solutions that have made outstanding achievements in the field of global green finance. The award actively promotes international exchanges, cooperation, and innovative practices in the field of green finance as part of achieving the United Nations Sustainable Development Goals (UNSDGs). The IFF Global Green Finance Award focuses on and encourages innovative green financial solutions that promote the transformation of economic growth models, environmental pollution prevention and control, climate change responses, and the commitment to improving energy efficiency and enhancing the effectiveness of energy conservation and emissions reduction. It seeks to attract innovation and practice in policy innovation, system optimization, industry development, service systems, technology upgrades, and talent development. The award has been held for four consecutive sessions since being launched in 2020. A total of 40 institutions have been selected for the annual award, 30 projects for the innovation award, and 3 institutions for the growth award. The fifth IFF Global Green Finance Award for 2024 released a recruitment notice on May 15, 2024, and the results of the 2024 Award are to be announced on November 24, 2024 during the IFF’s 21st annual meeting.

‘Belt and Road’ International Cooperation Award

To encourage multiple entities to actively participate in international cooperation under China’s ‘Belt and Road’ initiative, in 2024 the IFF established the ‘Belt and Road’ International Cooperation Award, which aims to commend and reward institutions around the world whose work is aligned with the ‘Belt and Road’ initiative and other similar projects. The award focuses on and encourages projects, institutions, and innovative solutions that promote ‘five links’ through international cooperation - policy communication, infrastructure connectivity, unimpeded trade, financial integration, and people-to-people connectivity. It also promotes the realization of poverty eradication, infrastructure construction, economic growth transformation and upgrading, prevention and control of environmental pollution, and the response to climate change to achieve sustainable development. The first ‘Belt and Road’ International Cooperation Award selection work issued a recruitment notice on May 30, 2024. The results of this award are to be announced at the IFF’s SRIA Conference on November 24, 2024.

Academic Programs

IFF Executive DPA Program for Global Sustainable Development Leaders in High-level Public Management The PSL-IFF Executive DPA in Global Sustainable Development was jointly created by the IFF together with Paris Sciences et Lettres (PSL) University, and is the first senior doctoral degree program in public affairs management and industrial economic development in the field of global sustainable development. The purpose of the program is to cultivate future management talent and help them assume roles in a wide range of public sector organizations, non-profit organizations, enterprises, and various policy institutions, as well as to become managers and leaders engaged in public affairs management or leading industrial development.