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43 foreign financial institutions for 2020 China Int’l Fair for Trade in Services

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By Wang Haonan, People’s Daily

Forty-three foreign-funded financial institutions from 18 countries and regions around the world have confirmed their attendance to the online and offline activities of the upcoming 2020 China International Fair for Trade in Services (CIFTIS), including Morgan Stanley, UBS Group AG, Deutsche Bank, Standard Chartered Bank, Daiwa Securities Group, and Mizuho Bank.

These foreign-funded institutions are expected to exhibit at the event their comprehensive cross-border financial services, as well as promote featured services tailored for the Chinese and global products of trade in financial services.

So far, more than 100 Chinese and foreign financial institutions have signed up for the thematic exhibition of financial services at the CIFTIS.   

The financial services exhibition has attracted 26 leading financial enterprises on the Fortune Global 500 list, and international companies account for over 60 percent in the comprehensive exhibition, according to preliminary statistics.

The event will provide opportunities for global financial institutions to cooperate and exchange with each other, and serve as a platform facilitating cooperation and connectivity for international trade in financial services, said the organizer of the fair.  

At the same time, the thematic exhibition of financial services will further fulfill the principle of inclusive finance and offer the world a financial feast from international perspective, with diversified services, and in a more down-to-earth manner, the organizer introduced.

The Beijing International Finance Expo (FINEXPO), one of the most influential financial expos in China initiated in 2005, will be incorporated into the CIFTIS for the first time this year. The FINEXPO will serve as the financial services exhibition in the thematic exhibition section during the 2020 CIFTIS.

As one of the eight thematic exhibitions of the 2020 CIFTIS, the exhibition of the financial services will be held under the theme – “New Finance, New Opening-up, and New Development.” Activities like exhibition, presentation, and forum will all be included.

The financial services exhibition will cover an area of 6,555 square meters, including 555 square meters for comprehensive exhibition, and 6,000 square meters for outdoor exhibition.

The exhibition of the financial services is expected to highlight five major subjects through five exhibition zones, including the national financial management center, the opening-up of the financial industry, the financial support for global trade in services, future finance and smart finance, as well as global wealth management.

In addition, financial services with Chinese characteristics, such as the services tailored for real economy, green development, poverty alleviation, COVID-19 response, and financial infrastructure construction, will be exhibited at the thematic exhibition of financial services to demonstrate China’s recent achievements in reform and opening-up in the financial sector.

Exhibition halls of the thematic exhibition of financial services will be made modern, digital and smart with 3D, virtual reality (VR), augmented reality (AR), and 5G technologies.

 “Everything you will see at the exhibition will be showcased via high-tech means”, said Huo Xuewen, director of Beijing Local Financial Supervision and Administration, adding that the financial industry will be a sector closely linked with science and technology.

Enhancing the application of scientific and technological results such as high-tech equipment, touch control systems, artificial intelligence (AI), and the Internet of Things (IoT) in financial sector can help make the exhibits readily understandable and livelier, Huo said. 

Against the backdrop of the rapid development of financial technology (fintech) around the world, the thematic exhibition of financial services will show the “Beijing sample” of financial technology.

A variety of fintech companies in China, such as JD Digits, Tencent, Du Xiaoman Financial, and Lakala, as well as Beijing financial technology and professional service innovation demonstration zone and Chinese tech firm ByteDance, will showcase the application of state-of-the-art technologies, including 5G, IoT, block chain, AR, and AI, in the financial field.      

Three major forums will be held during the 2020 CIFTIS, namely 2020 China International Finance Annual Forum, the 2020 Global PE Beijing Forum, and FIN-TALK, a dialogue between leading Chinese and foreign financial institutions.

The three forums are expected to witness in-depth discussions on hot-spot topics. So far, more than 80 experts and scholars from the world’s top global financial and investment institutions have confirmed their attendance to these forums.    

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