The 2021 BUSINESS 20 (” B20 “) Summit was successfully held in Rome on October 7 and 8 in a combination of online and offline formats. The results of the work of the seven B20 Working Groups, the Action Council and the Special Initiative Group on Women’s Empowerment were presented to the G20 high-level delegates on Tuesday, who will give their views on the expected outcomes of the G20. The B20 focus issues were discussed in three subsequent workshops, which were led and supplemented by the B20 Senior Representative. The themes of the three seminars included health, environment and crisis prevention; Education, equality and integrity; Trade, finance, infrastructure and digital transformation.
On The 8th, two other seminars were held focusing on challenges and opportunities facing the world, attended by a number of prominent politicians and leaders of international organizations. The themes of the symposium were respectively reversing the economic downturn and global cooperation to shape the future. Finally, the B20 chair will present the final policy recommendation report to the G20 Chair.
Ms. Lin Yang, Founding Partner of Yingke International, and Mr. Yongyuan Li, Managing Partner of Yingke, were selected as members of the Italian B20 Finance and Infrastructure Working Group and Integrity and Compliance Working Group in 2021 respectively. In the area of finance and infrastructure, the Working Group made the following four recommendations:
1. Sustainable finance and financial inclusion — Promote the scale-up of sustainable finance and financial inclusion by supporting the development of ESG and influential Investments, accelerate the adoption of global sustainability reports and metrics, and promote affordable financial products and services for individuals and micro businesses.
2. Infrastructure financing – Strengthen infrastructure financing by encouraging investment in sustainable infrastructure projects, implementing infrastructure as an asset, supporting cross-border planning and investment, and by promoting urban and suburban renewal projects.
3. The engine of growth – by promoting small and medium-sized enterprises access to capital, promote the open innovation ecosystem, make the customer data across departments jointly protect, accelerate the digitization of the financial sector and the innovation process, support the sustainable economic growth, improve the efficiency of the global value chain (GVC), and at the regional level to improve the efficiency of the integration of the value chain.
4. Global Regulatory Environment — Review the regulatory framework for the financial sector to ensure it can support economic recovery during and after COVID-19 by addressing climate change, systemic and pandemic risks, improving scrutiny measures and NPL regulation, and constructively reviewing regulation of the non-bank financial sector.