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On February 10, 2023, the Chinese Academy of Fiscal Sciences (CAFS) held the Theoretical Seminar on the Transition of Green Finance. Mr. Liu Shangxi, CPC Committee Secretary General and President of CAFS, Mr. Zhu Min, Deputy Director of China Center for International Economic Exchanges and former Vice President of International Monetary Fund, Mr. Zhao Penggao, Deputy Director of the Department of Resource Conservation and Environmental Protection of the National Development and Reform Commission, Mr. Guo Qingwang, Vice President of the Society of Public Finance of China and Professor of Renmin University of China, Mr. Yang Zhiyong, Vice President and Researcher of the National Academy of Economic Strategy, CASS, Mr. Yan Gang, Vice President of Chinese Academy of Environmental Planning, and Mr. Mei Dewen, General Manager of China Beijing Green Exchange, delivered keynote speeches. Mr. Fu Zhihua, Chairman and Researcher of CAFS Academic Committee, commented on their remarks. The seminar was presided over by Ms. Xing Li, CPC Committee Member and Vice President of CAFS. More than 30,000 participants from all walks of society were drawn to the event, either in person or virtually via video link.

The seminar was structured into three parts: introduction of accomplishments, keynote speech, and theoretical discussion on the transition of green finance. On behalf of the compilation group, Mr. Chen Shaoqiang, Director of the Research Center for Resource and Environment, CAFS, reported the framework content and main features of the new book China Green Finance Report 2022: Focusing on Carbon Peaking and Carbon Neutralization.

During his keynote speech titled the Transition of Green Finance: Goals and Prospects, Mr. Liu Shangxi pointed out that green finance entails a transition to the fundamental logic of development by embedding the concept of green development and the thought on ecological civilization into the fundamental logic of finance, instead of understanding solely through a policy lens. After identifying green finance as a significant challenge that China is grappling with, he suggested reconstructing the institutional and management foundations of finance to enable the transition towards a system of green tax, green budget, and green finance, as well as thoroughly evaluating the risks associated with the transition of green finance, and proactively mitigating and addressing public risks from multiple perspectives.

The present experts and scholars engaged in a discourse pertaining to the theory of transitioning towards green finance.

During his commentary, Mr. Fu Zhihua underscored the urgent need to prioritize major strategies linked to the national economic and social development, and to continue research on how the transition of green finance facilitates high-quality economic and social development in tandem with promoting green development.

Finally Ms. Xing Li provided a succinct summary of the seminar, affirming its value as a platform for brainstorming on green development and the transition of green finance. She added that the CAFS will delve deeper into the theoretical issues on the transition of green finance in the future.