(Economic Watch) full of "international standards", CIFTIS builds an open and cooperative "financial bridge"

Beijing, 9 Sep (ZXS) -- The "International Standard" is Full of Title: CIFTIS Builds a "Financial Bridge" for Opening Up and Cooperation

China News Agency reporter Xia Bin

As one of the nine major topics of CIFTIS 2023, the financial services theme of more than 1,4 square meters and eight exhibition areas will be held in Beijing Shougang Park from September 9 to September 2. From the topic setting of the supporting forum to the core selling points of exhibitors, this "one-stop financial event" highlights the "international standard" and builds a "financial bridge" for China's opening up and international cooperation.

-- Financial opening is not stopping

In recent years, China has actively promoted two-way opening up in the financial sector, and has formed a multi-channel and multi-level opening pattern covering stocks, bonds, derivatives and foreign exchange markets. In the past year, officials have improved the pilot of the Cross-boundary Wealth Management Connect in the Guangdong-Hong Kong-Macao Greater Bay Area and promoted the launch of the Mainland and Hong Kong Interest Rate Swap Connect.

Li Wenhong, director of the Beijing Municipal Financial Supervision Bureau, said that promoting high-level opening up is an important part of accelerating the construction of a new development pattern and focusing on promoting high-quality development. The financial industry is the core of the modern economy, and it is even more necessary to adhere to the simultaneous development of "bringing in" and "going out".

It is reported that this year's financial services thematic exhibitors cover more than 20 countries and regions in the Americas, Europe, Asia, Africa and the Middle East, and the level of internationalization has been further improved. Among them, well-known foreign financial institutions such as HSBC, Standard Chartered Bank, Fubon Hua Yi Bank, Mizuho Bank, Daiwa Securities, Mastercard, SWIFT, London Stock Exchange, Hong Kong Stock Exchange, Deutsche Börse and other well-known foreign financial institutions will share the latest products and applications in the overseas financial industry and explore more cooperation opportunities with China through technology and product displays.

According to the data previously released, a total of 219 domestic and foreign financial institutions and enterprises participated in the exhibition this year, including 99 offline exhibitors, including 52 domestic-funded institutions and 47 foreign-funded institutions, with an internationalization rate of 47%.

Zhang Xiaolei, President and President of Standard Chartered Bank (China) Co., Ltd., said that China's determination and practical actions to promote institutional opening up not only help enterprises improve their competitiveness, but also provide more opportunities and broader development space for enterprises' global layout, and promote "going out and bringing in".

– Expanding cooperation in green finance

On the road to achieving China's "dual carbon" goal, financial institutions are constantly innovating green financial products and services to contribute to sustainable economic development.

At this exhibition, financial institutions and third-party service providers will focus on the exploration and innovation of the financial industry in supporting the development of low-carbon circular economy and supporting the "dual carbon" goal, and show China's achievements in promoting green finance reform, promoting green financial innovation and contributing to sustainable economic development.

It is worth noting that the exhibition specially designed the "China-UK Dialogue on New Drivers of Economic Development" roundtable dialogue session, with a view to expanding new areas of China-UK green finance cooperation.

Wang Yunfeng, President and CEO of HSBC Bank (China) Co., Ltd., pointed out that China is currently the second largest green bond market in the world, but the amount of green bonds that foreign investors can buy is relatively limited, and the issuance of high-grade green bonds is still in its infancy, which provides a broad space for foreign financial institutions to actively contribute overseas expertise and work with Chinese counterparts to promote the vigorous development of China's green bond market.

At the same time, foreign financial institutions can also give full play to the role of financial "bridge", promote the better integration of China's green finance standards and rules with the international network, and promote the improvement of green information disclosure.

– Finance facilitates global trade

Financial services are inseparable from the promotion of cross-border trade and world orders.

The exhibition of China Development Bank will focus on the achievements of foreign economic and trade development and cross-border investment, and joint construction of the "Belt and Road"; The Export-Import Bank of China combined financing cases and international cooperation results to share its experience in supporting foreign trade, cross-border investment, foreign cooperation and open economic construction.

Bank of Communications' booth focused on continuously promoting the expansion and quality of trade and foreign exchange revenue and payment facilitation policies, serving technology-based enterprises to carry out cross-border financing facilitation pilots, and facilitating the cross-border receipt and payment settlement of RMB for high-quality and honest enterprises.

As an exhibitor, the latest data released by the global cross-border payment platform World First shows that cross-border sellers purchased goods from the e-commerce platform 1688 through the "Cross-border Bao" service, and the number of new users in the first seven months of this year increased by 7% year-on-year; The year-on-year growth rate of cross-border transaction volume exceeded 17%, exceeding RMB50 billion.

Sun Chongwei, general manager of the platform business of Ant International Enterprise Cross-border Payment Business Unit, told China News Agency that for the cross-border e-commerce business season in the second half of the year, Wanlihui and 1688 will continue to provide domestic and foreign small and medium-sized sellers with one-stop cross-border overall solutions such as procurement, logistics and finance that they urgently need, shorten the trade and capital chain of the entire cross-border direct procurement, and improve the efficiency of rushing goods. (End)