China News Service, Beijing, August 9 (Reporter Du Yan) "Beijing has become the first choice for foreign financial institutions to enter China." Wang Ying, deputy director of the Beijing Municipal Financial Supervision and Administration Bureau, said at a press conference held today. Since the opening of the financial industry in Beijing this round, 42 foreign financial institutions and projects have landed in Beijing. In the second half of 2020, it is expected that a number of foreign financial institutions will set up new cooperation projects in Beijing, which will become a highlight during the service trade fair.
Adhere to open cooperation and create a new pattern of opening up the financial industry
Wang Ying, deputy director of the Beijing Municipal Financial Supervision and Administration Bureau, the person in charge of the financial service exhibition, said that the 2020 Service Trade Fair Financial Service Sector Exhibition is the latest image of China’s financial industry opening up to the outside world and will bring a positive demonstration effect to global service trade , And inject sustained impetus into stable economic growth. With the global spread of the epidemic and the complex and severe international service trade situation, the special exhibition invited more than 100 well-known financial institutions at home and abroad to participate in the exhibition to jointly cultivate new opportunities in the crisis and open a new game in the changing situation.
Wang Ying said that the continuous deepening and comprehensive acceleration of the financial industry’s opening-up has improved the development level of China’s financial industry and the international competitiveness of financial institutions, not only benefiting foreign financial institutions in China, but also injecting vitality into the global economic innovation and development. Standing at a new historical node, we will continue to bring into play the "display window" and "frontier position" effects of opening up, adhere to open cooperation, and create a higher level, deeper, and broader new pattern of financial industry opening.
Beijing becomes the first choice for foreign financial institutions to enter China
According to reports, since the opening of Beijing's current financial industry, 42 foreign financial institutions and projects have landed in Beijing. Under the epidemic situation, in the first half of this year, Mastercard was approved to enter the bank card clearing market. Fitch became the second international rating company to enter the Chinese market after S&P. Goldman Sachs and Credit Suisse have successively achieved holdings in their joint securities companies in China. , Oaktree Capital, a world-renowned investment management company, set up a wholly-owned subsidiary in Beijing, and the UK's largest life insurance company Prudential Group joint venture asset management company landed in Beijing.
Wang Ying said that the landing of these landmark projects shows that Beijing has become the first choice for foreign financial institutions to enter China. In the second half of 2020, it is expected that a number of foreign financial institutions will be newly established in Beijing to implement cooperation projects, which will also become a highlight during the service trade fair.
Financial institutions support the real economy
The financial service special exhibition will show the new look of financial institutions working hard to support the real economy in the post-epidemic period, and will release a positive signal to the world that China's financial industry will further open up.
According to reports, at the exhibition, the Export-Import Bank of China brought achievements in supporting trade in services; the US$10 billion special loan set up by the China Development Bank to stabilize foreign trade and serve the “Belt and Road” initiative has also achieved results; China Credit Insurance provides innovative ideas and efficient services Help companies "go to sea".
Under the impact of the epidemic, the development of enterprises is under pressure, especially small and medium enterprises are facing survival difficulties. Many joint-stock banks have leveraged the application of financial technology, while overcoming their own difficulties, in-depth study of the real plight of enterprises, especially the foreign trade industry, around the real trade of upstream procurement and downstream sales, through innovative "combined punches" to provide integrated financial services. At the same time, multiple measures have been taken to help the "six stability and six guarantees", significantly reduce cross-border remittance fees and telegram fees related to immunization prevention and control, fight against epidemic-related domestic and foreign currency loans, foreign exchange settlement and sales, and further increase pricing preferential support Efforts to reduce corporate financial costs.
Wang Ying said that in the coming period, Beijing will continue to coordinate the work of financial services for economic and social development under the normalization of epidemic prevention and control. Take finance as the focus of the modern service industry, implement a higher level of full opening, continue to optimize the business environment, attract more financial institutions and overseas investors to Beijing for development, promote more practical cooperation projects and implementation of results, and continue to be under the epidemic Stable economic development injected new impetus.
Steadily carry out the pilot work of financial technology innovation supervision
As an important part of the digital economy infrastructure, financial technology plays an important role in promoting the transformation and upgrading of the financial industry, improving quality and efficiency, empowering financial institutions, and stimulating economic vitality. In December 2019, the People's Bank of China took the lead in launching a financial technology innovation supervision pilot in Beijing, focusing on creating financial technology innovation supervision tools that conform to China's national conditions and are in line with international standards.
Wang Ying revealed that under the guidance and support of the central bank, Beijing has taken the lead in launching the pilot financial technology innovation supervision in the country, which has attracted attention from all walks of life. At present, two batches of 17 projects have been officially tested.
According to reports, at this financial service exhibition, the Beijing Financial Technology and Professional Service Innovation Demonstration Zone will join hands with many financial technology companies to demonstrate the integration of 5G, Internet of Things, blockchain, virtual reality, artificial intelligence and other technologies with the financial industry. , To promote the application of financial technology scenarios in offline retail, e-commerce, medical education, consumer finance, asset management, public services, and smart cities.
She pointed out that Beijing will steadily carry out financial technology innovation supervision pilot work, and guide licensed financial institutions to promote the integrity and innovation of financial technology under the premise of complying with laws and regulations and protecting consumers' rights and interests, and empower financial services to improve quality and efficiency, and create safety An inclusive and open financial technology development environment. (Finish)