New global financial order needed, said Chinese forum

A new global financial order is essential in the rapidly changing global economy, international financial experts said at a forum in Beijing. “The world today is facing a revolution. It is imperative to construct a new global financial framework and to formulate new rules for global financial market,” explained Cheng Siwei, chairman of the International Financial Forum (IFF). As the world’s second-largest economy, China intends to play its full role in the construction of the 21st century’s financial world.