From February 22 to 23, Ma Weihua, Rotating Chairman of China Alliance of Social Value Investment and Chairman of the Board of Directors of China Global Philanthropy Institute, and Xu Yongguang, Chairman of the Board of Directors of Narada Foundation led the Chinese delegation of China Impact Investment to fly to Seoul, South Korea to participate in “Asian-Pacific Region Impact Investment Seminar and the Korea NAB Inauguration Conference,” which was co-organized by the Global Social Impact Investment Steering Group (GSG), the British Council, and U.N. Economic and Social Commission for Asia and the Pacific.
Leaders from international organizations and pioneers in the field of impact investment from Asian countries and regions including South Korea, China, Singapore, Malaysia, the Philippines, Indonesia, Myanmar, Hong Kong, and Taiwan were gathered together to discuss with Sir Ronald Cohen, Chairman of the GSG, on the future development of impact investment in the Asian-Pacific Region.
The Chinese delegation was organized by China Social Enterprise and Social Investment Forum, and the delegation members came from Narada Foundation, a council member of China Social Enterprise and Social Investment Forum, Yuhong Capital, the representative of impact investment organizations, and China Alliance of Social Value Investment.
As a professional advisory council that gathers global financial, commercial, and philanthropic leaders to engage in impact investment and social entrepreneurship, the GSG currently has 16 member countries plus the EU, as well as observers from top network organizations around the world. The original intention of this event was to congratulate on and share experience on the inauguration of the Korea National Advisory Board (NAB) and further push the construction of the impact investment mechanism in other parts of the Asian-Pacific Region.
During the closed-door meeting of Sir Ronald Cohen, Chairman of the GSG, and the Chinese delegation, both sides reached an agreement that global impact investment cannot go without China’s participation for which the representatives will actively advocate and push forward the impact investment to develop in China. Both sides also discussed the possibility and path of founding an NAB in China.
On behalf of the Chinese delegation, President Ma Weihua gave a speech and expressed that the tradition and concept of impact investment was age-old in China and that what both sides needed to do was to unify the discourse system and institution-building, draw governments’ close attention to impact investment through G20 and other such global multi-lateral coordination mechanisms, and formally set up related mechanisms to realize systematic development.
Sir Ronald Cohen expressed that the GSG would like to generously share the best practices from the world, including scientific methods for assessing impact, the setup and management of a national impact investment fund, and information on investment projects, and would like to fully support China to push forward the construction of its own NAB.
The delegation members also visited local social innovation organizations in South Korea, participated in the dinner banquet hosted by the Minister of Strategy and Finance, and shared the current situation of impact investment in China with colleagues from AVPN, the British Council, U.N. Economic and Social Commission for Asia and the Pacific and other countries and regions.