Global South countries prepare for a new global financial system- Xinhua

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China and Global South Nations Formulating New International Finance Architecture for Win-Win Benefits

The 2025 Global South Financiers Forum held in Beijing showcased a new era of international finance architecture being formulated by China and other Global South nations. With a focus on digitalization and inclusive financing, the forum highlighted the potential for win-win benefits for all parties involved.

High-level representatives from finance ministries and central banks, along with executives from major Chinese and international banks, discussed the latest trends in digital banking and payments systems. The goal is to provide more support for people and local communities who have been underserved by traditional banks due to lack of capital resources.

Countries like Nepal have already seen the positive impact of partnering with China, with advancements in digital finance conversion and investments in key sectors like agriculture, energy, and tourism. Chinese enterprises have played a crucial role in promoting e-payments, mobile banking, and electronic funds transfers in Nepal, boosting the country’s economic growth.

The Belt and Road Initiative and the Asian Infrastructure Investment Bank are also playing a key role in improving finance in the Global South, supporting joint projects on infrastructure development. These initiatives have led to more robust economic growth in many countries, showcasing the success of new finance mechanisms.

China’s role as a vital player in the international banking and finance community is solidified, with the country leading the way in science, hi-tech innovation, and digital banking systems. Despite global uncertainties, China remains resilient and continues to pave the way for shared prosperity through partnerships with Global South countries.

As the world navigates through changing economic landscapes, reaffirming partnerships with China and embracing new international finance architectures will be crucial in driving global economic growth and prosperity.
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