The three-day 2023 Bund Summit drew to a close in Shanghai on Sunday.

Bringing together 700 influential financial leaders from around the world, the key global financial gathering focused on finding a new path towards economic recovery and growth, as the world grapples with geopolitical tensions and economic uncertainties.

During the summit, financial leaders exchanged insights on topics such as international finance, global supply chains, macroeconomic policies and financial innovation.

Among them, the role of finance in supporting sustainable development featured prominently in discussions.

Shih May-lung, chairman of the Hong Kong Stock Exchange, pointed out that green and low-carbon development is now a crucial area of global financial cooperation.

Green transformation should be supported by an open, transparent, innovative, and efficient financial market, Shih said.

The Hong Kong Special Administrative Region, as a leading international financial center, has been working on building effective platforms and mechanisms to encourage the flow of financial resources to sectors and enterprises that will drive green transformation, she added.

Zhang Xuguang, executive vice president of the Agricultural Bank of China, emphasized on the role finance plays in resource allocation and adopting a green finance strategy, in a keynote speech delivered on Saturday at the plenary session entitled "Sustainable Development: Global Progress and China's Actions."

Alderman Nicholas Lyons, Lord Mayor of the City of London, noted the importance of private sector participation in the development of green finance.

He called for global cooperation in the transformation towards sustainable development.

The 2023 Bund Green Finance Report on China, aiming at facilitating the country's green transformation and addressing climate-related financial risks, was also released on Saturday.

The report focuses on financial support for the research, development and application of green and low-carbon technologies, low-carbon transformation of high-carbon industries, as well as sustainable financial capacity building.

Read more: Global cooperation advocated at 2023 Bund Summit