中文|English

博鳌亚洲论坛博鳌亚洲论坛——凝聚亚洲共识 促进亚洲合作 传播亚洲声音

  1. Home

  2. About BFA

  3. Conferences & Meetings

  4. Press Center

  5. Members & Partners

  6. BFA Academy

  7. Areas of Focus

  8. Regional Cooperation

  1. Home

  2. About BFA

  3. Conferences & Meetings

  4. Press Center

  5. Members & Partners

  6. BFA Academy

  7. Areas of Focus

  8. Regional Cooperation

Members
Partners

Position: Home >> Press Center >> News

Opening and Moderating Remarks by Secretary General Mr. Li Baodong at the Roundtable on Ecosystem Building and Digital Development of Financial Inclusion in Asia
Origin:Boao Forum for Asia      Time:2020-07-03 17:31:44    Views:200

(July 2, 2020)

 

His Excellency Mr. Zhou Xiaochuan,

His Excellency Mr. Tian Guoli,

Professor Muhammad Yunus,

His Excellency Mr. Byadran Lkhagvasuren,

His Excellency Mr. Mihály Patai,

Distinguished guests,

Ladies and gentlemen,

Good afternoon! Thank you for participating in the Roundtable on Ecosystem Building and Digital Development of financial inclusion in Asia.

We are delighted to be joined by Vice Chairman of Boao Forum for Asia, Mr. Zhou Xiaochuan, and Mr. Tian Guoli, Chairman of Asian Financial Cooperation Association and China Construction Bank, Nobel prize laureate, Professor Muhammad Yunus from the Grameen Bank, Mr. Mihály Patai, Deputy Governer of Magyar Nemzeti Bank and Mr. Byadran Lkhagvasuren, Governer of Bank of Mongolia. I would also like to extend my warm welcome to the senior representatives of international organizations and govern agencies, including the IFC, the People’s Bank of China and Financial Supervisory Service of Korea, and those from renowned global business groups such as the Ant Group, Visa, from academia and media as well as the Boao Forum members from the financial sector. I want to thank the co-organizer of this event Asian Financial Corporation Association and our partner Institute of Digital Finance of Peking University for their contribution and support.

The term “financial inclusion” was first proposed by the United Nations in 2005 “International Year of Microcredit” , referring to a state in which all people with financial needs have access to a full suite of quality financial services, provided at affordable prices, in a convenient manner, and with dignity for the clients. The concept has since attracted widespread attention from organizations and countries around the world and hence been continuously developed and refined. Thanks to remarkable progress in recent years, the development of financial inclusion in Asia is now on par with or above the world average. At the same time, there are still significant disparities among Asian economies. To improve financial inclusion to ensure better access to and usage of financial products and services by all social groups across countries in Asia is crucial to efficient allocation of financial resources and achievement of a balanced and sustainable development, particularly in times of hardships.

The sudden outbreak of the COVID-19 at the beginning of this year has taking unprecedented tolls on people’s lives and global economy. The prolonged interruption in consumption and production has resulted in severe economic contraction and massive job losses worldwide. While the pandemic is still ranging in some parts of the world, it is encouraging to see that many Asian and European countries have started to reopen their economy and big progress being made in developing vaccine and drugs for the virus.

To face the worst economic downtown since the Second World War, governments need to prop up micro-, small and medium -sized enterprises which play a significant role in all economies and support the disadvantaged groups in order to accumulate growth, reduce unemployment, and alleviate social tension. So in this process, it is crucial to ensure that financial inclusion is further improved to facilitate their contribution to the economy.

With a view to facilitating discussions and exchanges regarding financial inclusion, the Boao Forum Asia and Asian Financial Cooperation Association has jointly produced a flagship report entitled "Asian Financial Development Report on Financial Inclusion". The report concludes that a coordinated approach, team work is crucial for promoting financial inclusion, all stakeholders to work together in concerted manner, in formulating supportive policies, stepping up financial and digital infrastructures, encouraging innovative and consumer-centric products and services and improving consumer protection and education. Digital technology can play a significant role in making financial services more inclusive, adaptive, and tailored to consumer needs. Asian countries benefit from their rich experiences in financial inclusion and are at the frontier of adopting digital innovation.

Excellencies, ladies and gentlemen, strengthening dialogue and cooperation for the development of Asia is the mission of the Boao Forum for Asia. We hope that today's discussion can help identify some options for Asian countries to overcome their current difficulties and to achieve a more inclusive, balanced, and sustainable development together.

Next, I would like to invite Mr. Chen Kewen, Secretary General of the AFCA, our co-organizer, to deliver his welcome remarks.

 

(Go to Chinese)