SHENZHEN, May 19 (Xinhua) -- Experts lauded China's role in promoting global economic growth and multilateralism at a global finance forum held on the weekend in the southern Chinese city of Shenzhen.

"China has long served as an anchor of global economic stability and remains a staunch advocate for multilateralism, economic globalization and trade liberalization," Jiao Jie, dean of Tsinghua University's PBC School of Finance (PBCSF), said at the 2025 Tsinghua PBCSF Global Finance Forum.

Launched in 2014, the forum has emerged as one of the most influential financial academic forums. It aims to provide a high-level platform for dialogue, bringing together global government officials, economists, and financial leaders to explore new opportunities for collaboration.

Themed "A Shared Future: Building an Open and Inclusive Economic and Financial System," this year's edition featured 13 thematic panel discussions and two closed-door sessions, according the organizer PBCSF.

At the two-day forum, nearly 100 officials, industry leaders, and academic experts from across the globe debated critical topics such as the evolving international monetary system, global trade dynamics, risks of economic fragmentation, and opportunities within the Guangdong-Hong Kong-Macao Greater Bay Area. These dialogues sought to chart innovative pathways and drive actionable strategies for sustainable global financial growth.

Marshall Mills, the IMF's senior resident representative in China, said the protectionism not only increases uncertainty for businesses but also stifles innovation and economic growth.

The IMF official believes that, against this backdrop, fiscal policy serves as a crucial tool for addressing economic challenges. "On China's fiscal policy, the fiscal expansion this year is welcomed and will help support the economy, mitigate deflationary pressures, and lower the current account surplus," he added.

"The scenario that I think is the most likely is that Europe and China and other major emerging economies will become the sponsors of a process that results in a reasonably functional, practical, workable and multilateral system," Nobel laureate economist Michael Spence said via video link.

Underscoring China's commitment to leveraging the certainty of high-quality development to counter the uncertainties of a rapidly changing external environment, Jiao noted that the country is gradually shifting from a follower of rules in global governance to a reformer of institutions.

The China Financial Policy Report 2025 released at the forum indicates that China's financial reform is currently at a new critical juncture, with challenges emerging in the areas of financial security and regulation. Against both internal and external pressures, China's financial system should accelerate the pace of reform and continue to enhance its resilience, it said. Enditem