(Originally published on 09/11/2015)

An international forum was held today in Beijing to discuss internet finance regulatory policies and share innovative practices, in China and around the world. The event was jointly hosted by the United Nations Development Programme (UNDP), the China International Center for Economic and Technical Exchange (CICETE) and the China Association of Microfinance and Huizhong Wealth Management.

“Accelerating financial inclusion is a priority for poverty alleviation globally. Internet finance is a useful tool that can make a huge difference,” said Mr. Patrick Haverman, UNDP Deputy Country Director. “Today, the nternet has made it possible to enlarge scale and reduce costs for financial inclusion, through platforms such as P2P lending and mobile banking,” he added. 

The Internet Finance (P2P Lending) Innovation Forum was attended by representatives from the People's Bank of China (PBOC), the China Banking Regulatory Commission (CBRC), the State Council Development Research Center, regional financial offices, international organizations, and internet finance companies.

This event was part of UNDP and CICETE’s Building Inclusive Financial System in China programme. In addition to organizing platforms for knowledge exchange among internet finance stakeholders such as the Forum, the programme also plans to establish an inclusive finance research center and cooperate with the Research Department of PBOC to promote internet finance policies and practices.

During the Forum, participants discussed the newly released regulatory guidelines called Guiding Opinions on Promoting the Sustainable Development of Internet Finance, and shared different perspectives on risk management in inclusive finance and international practices. Participants also engaged in a panel discussion around challenges and new opportunities facing China’s Internet finance sector.

Funded by the Huizhong Group, the Forum provided a unique opportunity for regulatory authorities, research institutions and private sector companies to work together to achieve inclusive finance for poverty reduction.

As the first organization to introduce microfinance in China, UNDP has been working since 1994 with the Chinese government to push for inclusive finance for poverty alleviation. With 48 microfinance pilot projects in 17 provinces, the partnership has greatly contributed to the development of microfinance in China.

(Originally published on 09/15/2015)

Just one week before the UN General Assembly and the Global Women’s Summit in September, the Memorandum of Understanding (MOU) between China Soong Ching Ling Foundation (CSCL) and UNDP China was jointly signed by both parties.  The MOU is aiming to promote sustainable human development through joint collaborations in social and economic development, equipped with a specific gender lens to enhance gender equality, women’s empowerment and to advance women’s development.

The joint signing ceremony took place in Mme. Soong Ching Ling’s Former Residence, where the remarkable life stories of Mme. Soong Ching Ling, the outstanding female leader and the mother to the modern China, were demonstrated throughout the exhibition, from the permanent furnishings in her house and every ancient pavilion, terrace and tree.

After a pleasant conversation, agreement and consensus was reached between Mr. Qi Mingqiu, the executive Vice Chairman of CSCL Foundation and Ms. Agi Veres, Country Director of UNDP China.  “As you may know, more than 190 states are going to approve the seventeen sustainable development goals next week in New York which represent the values we share together.” Said Agi, “UNDP deals with traditional development challenges such as poverty reduction, environment protection, climate change, equality, governance and rule of law. We provide assistance to vulnerable groups including women and children.  Meanwhile, we also work with the Chinese Government to take a much more global role in the world.”

“We promote people-to-people diplomacy through our programmes which brings different cultures together.  We are making Chinese friends in the world and we are making the world our friends.” Said Mr. Qi Mingqiu, “We would appreciate assistance and support from UNDP, especially the international experience and best practices UNDP can bring, in our future events such as the Word Youth Forum, the Women and Children Development event, and the Women’s Forum.”

The MOU, signed in this historic site and witnessed by both parties, will serve as the framework for strategic cooperation between two organizations in pursuit of sustainable human development, through more and more joint initiatives in development for women and children, and advocacy for a better understanding between east and west.

As a kick off activity under the MOU, a high level forum on Women, Development and the Future will be organized by CSCL Foundation and UNDP China on 14-16th October to commemorate the 20^th anniversary of UN Women’s Conference in 1995, the Beijing Declaration and Action Plan. Eminent female leaders, representatives from government, institutions, academia and private sectors from home and abroad will participate in the forum.