The second G20 Finance Ministers and Central Bank Governors Meeting was held in Washington D.C. on April 17 and 18 during the 2024 International Monetary Fund/World Bank Spring Meetings. The meeting focused on issues including advancing sustainable finance and improving international financial architecture. Governor Pan Gongsheng and Deputy Governor Xuan Changneng attended the meeting.
The overall view at the meeting was that credible, robust, and just transition plans need to be advanced, and disclosure burden for SMEs should be reduced. At the same time, it was recommended to mobilize climate finance through multiple channels, with the aim to improve its accessibility and affordability. The Ministers and Governors welcomed the progress achieved by the G20 Sustainable Finance Working Group (SFWG) and looked forward to relevant policy recommendations. They also supported reinforcing multilateral development banks’ financing capacity and called for measures to maintain the stability of international capital flows and help fragile economies to recover.
Governor Pan pointed out that more open and inclusive multilateral trading system will enable more stable capital flows to the emerging and developing economies. He also introduced the latest progress of the People's Bank of China in continuing to promote sustainable finance, including the recent release of the "Guidelines on Financial Supporting for Green and Low-carbon Development". Governor Pan expressed appreciation of members’ support for the SFWG’s agenda, which the PBoC, as SFWG co-chair, will implement in close cooperation with members.
