Important financial meeting to kick off in Chengdu

The Annual Meeting of the Boards of Governors of the Inter-American Development Bank (IDB) will be held in Chengdu from March 26-31. This will be China's first time hosting the annual event, and this year marks the 10th anniversary of China's entry into the group.

The IDB is reportedly the oldest and largest financial institution for regional intergovernmental development. The Boards of Governors of IDB always holds the annual gathering in one of the bank's member countries, where ministers of finance and presidents of central banks discuss financial issues related to Latin America, the global economy, industrial development strategies, and the operations of IDB Group.

This year's event will comprise of a series of meetings, as well as two forums (one for mayors from across China and Latin America, and the other focusing on business issues), a seminar focusing on innovation, entrepreneurship, and small and medium-sized enterprises, and a symposium on green finance.

Revolving around a theme of sustainable cities, 20 to 25 Latin American mayors and their Chinese peers will discuss sustainable urban development and provide examples for reference at the mayor's forum.

At the seminar on "Innovation for Development: SMEs and Technology for a Better Future", discussion topics will include SMEs, disruptive enterprises, sustainable infrastructure, and artificial intelligence.

The business forum will focus on cooperation and investment opportunities in fields such as international trade, energy development, infrastructural projects, transportation, and logistics.

The symposium on green finance will discuss a range of issues, including measures to promote the green development of the financial industry, support for green loans, and policy tools for sustainable investment.

The meeting will serve as a platform for cooperation in innovation. Promotional investment agencies from Latin America and the Caribbean will share investment opportunities from various countries, according to the organizers.

Chengdu, the host city, was the birthplace of the jiaozi, the world's first banknote issued in ancient China more than one thousand years ago.

In recent years, Chengdu has implemented many financial innovations and is striving to become a national financial hub with international influence.

The city is currently home to more than 2,500 financial institutions and intermediaries. The China Financial Center Index released by the China Development Institute in September 2018 ranked Chengdu sixth in China and first in the country's central and western regions.

A number of prominent business and financial conferences have been held in Chengdu in recent years, including the Fortune Global Forum in 2013, the G20 Finance Ministers and Central Bank Governors' Meetings in 2016, and the 2018 CICA Finance Summit.