(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 11/12/2015)

11-12 November, Xiangtan, On 11-12 November, a Technical Coordination Group Meeting on Stockholm Convention Implementation was held in Xiangtan, Hunan Province. As important implementation agencies of the Convention, The United Nations Development Programme (UNDP) and Foreign Economic Cooperation Office of Ministry of Environmental Protection (FECO) successfully co-organized an affiliated Life-Cycle Sound Management of E-waste International Workshop to initiate international and multi-level dialogues on e-waste management models, policies and regulations, good practice and technologies.

Every year, around 40 Mt of e-waste is generated worldwide and thus poses challenges to both developing and developed countries. As the leading e-waste producer and consumer, China is negatively affected by series of environmental and health problems associated with unregulated and informal e-waste collection, dismantling and treatment. Smoldering, open-air combustion, crude leaching and other disruptive disposal have released a range of Persistent Organic Pollutants (POPs) and Persistent Toxic Substances (PTS) to the air, soil and water bodies. To address the problem and mitigate its hazardous impacts, UNDP and FECO have jointly developed and implemented a GEF-fund e-waste project since 2014.

The e-waste international workshop successfully convened a multitude of stakeholders including experts from Sweden and Switzerland, governmental officials of different local Environmental Protection Bureaus (EPB), e-waste dismantling and treatment enterprises, academia and representatives from other international agencies. To shed light on China’s e-waste management, the workshop began with a comparative introduction of e-waste policies and management systems in different countries and regions, including Sweden, Mexico, Europe and Oceania. To depict a panoramic picture of global e-waste management eco-system, multi-dimensional comparison of Chinese e-waste management was analyzed with other countries. The well-established e-waste management systems in Europe, particularly Sweden were strongly echoed by the participants and stimulated warm discussion on their applicability and enlightenment in China.  

As Public-Private-Partnership was repeatedly mentioned by the participants, UNDP Programme Manager Wu Peng introduced the innovative Baidu Recycle 2.0, jointly developed by UNDP and Baidu, to demonstrate the magic power of engaging all players of the value chain into e-waste management. “Extending both the responsibilities and financial returns to producers will ultimately benefit the consumers and resultantly induce behavior change. The massive supports and demands aroused from consumers’ side will contribute to healthier and sounder e-waste management eco-system in China.”

Responding to the dilemma faced by barely self-sustained Chinese e-waste treatment enterprises, David Rochat, the CEO of a leading Swiss consulting firm, pointed out that being financially viable required systematic and meticulous cost-benefit analysis. “There is no one-size-fits-all cost model, and each component results from strategic/political decisions and design, for which a detailed business plan is required.”

Nils Lundkvist, veteran e-waste expert from Sweden, reiterated that sound e-waste management is a significant part of circular economy. “Waste” management will be re-defined as “resource” management in the near future if the added value of e-waste is fully taped and all stakeholders are able to act towards the same direction.” He also revealed one of the most important messages of the workshop “Learning from other countries is very necessary. However, it is crucial to keep in mind that no foreign experts are able to design a working e-waste management system for China. It is up to Chinese themselves to develop an efficient system adaptive to its culture, society, economy and political system.”