Abstract: The internationalization of China's development finance has advanced rapidly in recent yearsChina's financial institutions, represented by the China Development Bank and the ExportImport Bank of China, have played an increasingly important role in global development finance, and vigorously facilitated the development of both bilateral and multilateral investment and financingIn the “Belt and Road” projects, China's development finance has become a crucial driving force in promoting interconnectivity and coordinated development, backed by the capital advantage resulting from China's enormous foreign exchange reserves and experiences accumulated in infrastructure investment and financingEssentially, the international cooperation in development finance advocated by China is the “new development cooperation” rooted in the conception of SouthSouth cooperationIt is characterized by a super long time horizon, multiple synergies, and mutual benefitThe internationalization of China's development finance has remarkable positive externalitiesIt can not only help narrow the gap in infrastructure for a vast number of developing countries and alleviate energy supply problems, but also help improve the global governance system and facilitate the building of a community with a shared future for mankind.

Key words: China's development finance, internationalization, SouthSouth cooperation, positive externality

摘要： 近年来，中国开发性金融国际化发展势头迅猛，以国开行、进出口银行为代表的中国金融机构在全球开发性金融领域扮演了日益重要的角色，大力推动双边与多边投融资互促发展。在“一带一路”建设中，依托中国巨额外汇储备的资本优势和基础设施投融资中积累的经验优势，中国开发性金融已成为推动互联互通和发展对接的关键驱动力。从本质上看，中国倡导的开发性金融国际合作是根植于南南合作理念上的“新发展合作”，具有超长期性、多重协同性和互利共赢性。中国对外开发性金融合作的正外部效应显著，不但有助于填补广大发展中国家的基础设施鸿沟、缓解能源供给瓶颈，还有利于完善全球治理体系、推动构建人类命运共同体。

关键词: 中国开发性金融, 国际化发展, 南南合作, 正外部效应