Leaders attend Beijing finance forum

Leaders from the world's major financial institutions have gathered in Beijing for a forum on helping the world's economic recovery. Delegates called for new developing models to spur sustainable growth.

Many participants at the forum believed that the world's economy has weathered its worst. They stressed the need to establish a more sustainable global economy, especially on that takes into consideration the environment and developing economies.

Dominique Strauss-Kahn, mamaging director of International Monetary Fund, said, "The way to have growth in the coming years,especially in Asian emerging countries...more domestic demand...happy to notice the commitment by the Chinese authority to boosting domestic demand, consumption including green economy."

Green finance and the low-carbon economy were also hot topics at the forum. Both have emerged as new driving forces for economic growth. US President Barack Obama has made establishing a green economy at the top of his administration's agenda. China is also promoting a low-carbon economy. In the government's 4 trillion yuan economic stimulus plan, 200 billion yuan was devoted to saving energy and cutting emissions. But experts have warned government support is not enough. The market must also play a bigger role in developing green finance and low-carbon economies.

Jeff Huang, vice president of Chicago Climate Exchange, said, "The real question should be how China achieve those cuts at the lowest costs, that's where the market should come in.If you put price on carbon,as a consumer as a company see a price signal..."

Attendees called further technological cooperation between developed countries and developing nations. They also pushed for the establishment of a market mechanism exchange to serve companies.