A consensus on promoting financial cooperation among the Global South countries was released on Thursday in Beijing at the 2025 Global South Financiers Forum.
Hosted by Xinhua News Agency on March 19-21, the forum was attended by representatives from government departments, financial institutions and experts from more than 30 countries and regions.
According to the Beijing Consensus document, attendees of the forum have explored the opportunities and challenges confronting the financial sectors of Global South countries. They discussed the role of the Global South financial community in promoting reforms in the international financial system and the global governance system.
The attendees called for the Global South financial community to fully unleash market vitality, pinpoint key areas for multilateral cooperation, and create a favourable environment for cross-border trade and investment, the Beijing Consensus noted.
Efforts should be made to boost mutual assistance, increase financial support for infrastructure, food security and public health, and crack down on illegal financial activities to safeguard the rights and interests of financial consumers.
The Global South financial community should work together to maintain global financial stability and advocate for a new international financial order that is more just, equitable and inclusive.
The Global South financial community should also join hands to advance the green transition of the economy, develop green financial products suitable for the national conditions of developing countries, and promote the green and low-carbon upgrading of the economy.
Attendees of the forum urged the Global South financial community to continuously deepen opening-up and cooperation and strive to build an open world economy.
The 2025 Global South Financiers Forum will enhance exchanges and mutual learning, propel the prosperity of financial culture, and push ahead diversified financial exchanges and cooperation among Global South countries, according to the document.
SOURCE: Xinhua News
