The B20-G20 Dialogue on Finance and Infrastructure is held online on July 5, gathering representatives from G20 member states, key private sector players, and international organizations and academia. [Photo/Sinomach]

The 2021 B20-G20 Dialogue on Finance and Infrastructure was held in Italy on July 5, with the theme of “Accelerating Sustainable Inclusive Growth”. Zhang Xiaolun, chairman of Sinomach and co-chairman of the B20 Italy Finance and Infrastructure Working Group, was invited to attend the event via video link.

In his speech, Zhang noted that the COVID-19 pandemic is upending the globe and the world is still in the shadow of a weak economic recovery. Infrastructure is a central element in all aspects of economic and social activities, and is essential for a good quality of life, a green economic transition and successful sustainable development. Increased efforts should be made to bring the role of infrastructure into full play in disaster reduction and economic resilience, he said.

Zhang expressed his hope that G20 government departments and business communities will cooperate more closely on green and low-carbon development, and increase their input in and support for infrastructure construction, working together to further boost and stabilize economic growth.

Italy’s Economy and Finance Minister Daniele Franco, Indonesian Minister of Finance Sri Mulyani Indrawati, and B20 Italy Chair Emma Marcegaglia attended the video conference, as did Carlo Messina, deputy chairman of the B20 Italy Finance and Infrastructure Task Force, John W.H. Denton, secretary-general of the International Chamber of Commerce and other industry leaders.

The G20 is an international forum that brings together the world’s major economies. Its members account for more than 80 percent of world GDP, 75 percent of global trade and 60 percent of the population of the planet.

Established in 2010 and reserved for companies and business organizations, the B20 is among the most prominent of the G20 Engagement Groups. It consists of over 1,000 delegates from the G20 countries, including top executives from leading multinational corporations, and has around 3,000 participants representing an overall community of more than 6.5 million businesses.

The B20 is entrusted with developing consensus-based policy proposals for consideration by the G20 and international organizations and institutions, with a goal of promoting the robust, balanced and sustainable growth of the global economy.

As the Chinese chairman of the B20 Finance and Infrastructure Working Group since 2016, Sinomach has been participating in the forum’s various business activities and expanding the influence of Chinese companies.