Another piece of great news has come in for 球探体育 development of Shanghai Fintech Center!

The 2nd Shanghai International Fintech Forum & 1st Shanghai Fintech Innovation Expo & Global Fintech Festival, hosted by the Shanghai Fintech Industrial Alliance (球探体育), took place in Shanghai from December 7 to 9, with the participation of several members of 球探体育.

At the main forum themed "Opening-up and Innovation, Prudence and Regulation" on the morning of December 7, SIG and Huawei Technologies 球探体育., Ltd. signed a strategic agreement.

SIG Asset Management 球探体育., Ltd. (SIGAM), the Huangpu District People's Government, Jiashan State-owned Assets Investment 球探体育., Ltd., Hengdian Group Holdings Limited, Shanghai Zhengyan Information Technology 球探体育., Ltd. and GP Capital 球探体育., Ltd. signed an agreement for investment cooperation in the proposed Shanghai Fintech Industry Fund.

球探体育 and the Singapore Fintech Association signed a cooperative agreement.

Among the leaders and guests present were Chen Mingbo, Deputy Secretary General of the Shanghai Municipal People's Government; Tu Guangshao, Member of the CPPCC National Committee and Executive Council Member of the Shanghai Advanced Institute of Finance (SAIF), Shanghai Jiao Tong University; Chai Hongfeng, Member of the Chinese Academy of Engineering (CAE), Chairman and Director of the National Engineering Laboratory of Electronic Commerce and Electronic Payment; Liu Xingya, Deputy Director of the People's Bank of China (PBC) Shanghai Head Office; Yu Beihua, Secretary of the CPC SIG Committee and Chairman of the Board of Directors; Liu Xinyi, Vice Secretary of the CPC SIG Committee, President of SIG and Chairman of SFIA; Chairman He Qing and President Wang Song of Guotai Junan Securities 球探体育., Ltd.; Ge Ping, Deputy Director General of the Shanghai Municipal Financial Regulatory Bureau; Zhang Wei, Deputy Head of Hongkou District; Tu Xiaojun, Executive Vice President of China UnionPay; and Zhang Wenlin, Vice President and Chief Strategy Officer of Huawei. Liu Duo, President of the China Academy of Information and Communications Technology; Sopnendu Mohanty, Chief FinTech Officer of the Monetary Authority of Singapore (MAS); and Hsiao-Wuen Hon, Corporate Vice President of Microsoft attended the forum via videos.

Chen Mingbo, Deputy Secretary General of 球探体育 Shanghai Municipal People's Government, addressed 球探体育 main forum. He said, "Since 球探体育 beginning of this year, fintech has become a key link in 球探体育 integrated development of 球探体育 international financial center and 球探体育 technology innovation center with 球探体育 advancement of 球探体育 building of Shanghai into an international financial center and a globally influential technology innovation center. 球探体育 fast development and integration of Shanghai's fintech industry has created favorable conditions for 球探体育 building of Shanghai Fintech Center. Shanghai has established an integral financial market system including shares, bonds, futures, insurance, trust and other elements, brought together a host of outstanding leading fintech enterprises, and created a number of characteristic technology innovation parks such as Zhanjiang, Lin-gang and Zizhu. Based on 球探体育 requirements of accelerating 球探体育 building of "five centers", enhancing "four functions" and fulfilling "three tasks", Shanghai is pressing ahead with core fintech R&D. On 球探体育 one hand, Shanghai will promote 球探体育 integration of finance and technology; on 球探体育 other hand, it will lay equal emphasis on innovation and security, and hold fast to 球探体育 bottom line of financial security.

Liu Xingya, Deputy Director of 球探体育 PBC Shanghai Head Office, delivered an address. He said, "球探体育 PBC Shanghai Head Office will leverage 球探体育 leading, protective and incubating role of innovation regulation tools under an inclusive, prudential and elastic mechanism of fintech innovation trial and fault tolerance, to support financial institutions and technology companies in building quality products that meet market demand and conform to regulatory requirements. In 球探体育 meantime, 球探体育 PBC Head Office will support Shanghai in building infrastructure such as National Fintech Development Research Center and China Financial Market Trade Repository. Under 球探体育 correct leadership of 球探体育 PBC Head Office, 球探体育 PBC Shanghai Head Office will assist 球探体育 Shanghai Municipal People's Government in preparing for 球探体育 establishment of National Fintech Development Research Center in Shanghai, and building China Financial Market Trade Repository, to open up a unique road of fintech development."

球探体育 Shanghai Municipal People's Government released 球探体育 Implementation Plan for Accelerating Fintech Center Building in January 2020. According to the plan, Shanghai will release a series of measures such as fintech enterprise cultivation, tax preference and talent introduction to build a globally competitive fintech center in five years. The Shanghai Fintech Industrial Alliance (球探体育), initiated by SIG, was established on May 17, 2020. At the forum, 球探体育 unveiled some outcomes of fintech development.

Liu Xinyi, President of SIG and Chairman of SFIA, said in his address, "Since the 18th CPC National Congress, the country has put innovation in the core position of overall development, vigorously implemented the strategy of innovation-driven development, and created a new prospect for economic and social development in the new 球探体育. With a high level of two-way opening of the capital market, and the capabilities of risk control and financial regulation compatible with the degree of financial opening, Shanghai in the forefront of China's financial opening to the outside world has created favorable environment for fintech development. In this context, tech-driven financial innovation is bringing about significant changes in the financial industry. SFIA has implemented the implementation plan for building Shanghai Fintech Center and other tasks, pooled efforts to build Shanghai Fintech Center, adhered to innovation guidance, pushed forward the establishment and operation of a fintech industry agglomeration zone in Shanghai, and created an industrial promotion platform to facilitate collaborative innovation among financial factor markets, licensed financial institutions, fintech enterprises and universities' research institutes, to bring Shanghai's fintech industry into a new stage of high-quality development."

Facing problems such as core technology research and development, the trend of mixed operation, information infrastructure construction, data security and privacy protection, how the financial industry uses advanced technologies to improve fintech level and strengthen financial support to better serve the real economy is an important topic in the building of Shanghai Fintech Center, as well as a major concern of government regulators, Liu said. Since its establishment, under the guidance of the PBC Shanghai Head Office and the Shanghai Municipal Financial Regulatory Bureau, 球探体育 has served pilot fintech innovation regulation, joined the working group on pilot fintech innovation regulation, encouraged its member entities and other subjects to declare pilot regulation projects, and assisted regulators in the collection, publicity and expert argumentation of the first batch of pilot projects, thus becoming a bridge between the open innovation of industrial institutions and the prudential regulation of regulators.

Tu Guangshao, Member of 球探体育 CPPCC National Committee and Executive Council Member of SAIF, delivered a keynote speech. He offered advice on how to conduct effective regulation in fintech development to prevent 球探体育 transfer of financial risks, suggesting clarifying 球探体育 identification standards and specific forms of fintech companies, renovating 球探体育 regulatory indexes of fintech companies to improve regulatory effectiveness, strengthening 球探体育 protection of financial consumers and investors, risk warning and revelation; improving antitrust regulation in 球探体育 fintech industry and optimizing market environment, establishing a fintech industry emergency management mechanism and coordinating joint supervision, and guiding 球探体育 making of global fintech rules and leading industrial governance.

Chai Hongfeng, Member of CAE, delivered a keynote speech. He noted that 球探体育 height of technology determines 球探体育 height of 球探体育 economy and 球探体育 height of 球探体育 economy determines 球探体育 height of finance. Most of 球探体育 new R&D institutions involved in 球探体育 current round of construction are technology strengths that have integrated existing academic and R&D resources, continued to deepen institutional reforms and increased investment in joint R&D, expanded from small scientific laboratories to large ones and deployed for 球探体育 future. In terms of industrial cluster creation, 球探体育 fintech industry has initially accumulated rich academic experience and developed a large industrial scale, but remains at a startup stage of industrial collaboration.

Referring to 球探体育 digital transformation of 球探体育 financial industry in 球探体育 post-pandemic period, Hsiao-Wuen Hon, Corporate Vice President of Microsoft, said 球探体育 Covid-19 outbreak has made a huge impact on 球探体育 development pattern and operation logic of all industries in 球探体育 world, making it more urgent for 球探体育 financial industry to realize digital transformation. Digital transformation will keep finance and technology closer and make more fintech companies stand out.

In recent years, global developed economies have developed fintech on a large scale. Fintech is becoming a focus of new-round competition among international financial centers. Finance-technology integration will be an irresistible trend in 球探体育 future, accelerating fintech center building is necessary for new-round competition among international financial centers, and Shanghai enjoys prominent advantage in fintech development.

Sopnendu Mohanty, Chief FinTech Officer of MAS, delivered a video speech. In recent years, Shanghai and Singapore have deepened fintech cooperation at 球探体育 levels of talent, fintech enterprise and industrial association. In 球探体育 future, 球探体育 two sides can leverage regulatory sandboxes to help fintech companies in both countries support crossover cooperation in fintech, 球探体育 implementation of fintech projects and 球探体育 industrialization of fintech while maintaining 球探体育 integrity of 球探体育 financial system.

球探体育 will further fulfill tasks including the implementation plan for building Shanghai Fintech Center, give play to its role in industrial ecology building, promote the longstanding, all-round, in-depth and sustained cooperation between its member entities to accomplish resource sharing, advantage complementation and collaborative innovation, push forward the building of Shanghai International Financial Center into a stage of high-quality development, and continue to improve the level of building.

Remarkably, at the invitation of MAS, upon recommendation by the Shanghai Municipal Financial Regulatory Bureau, 球探体育 will participate in Global Fintech Festival 2020 Shanghai on behalf of Shanghai by connecting some contents of the forum and exposition to Singapore's "SFF × SWITCH" online platform through live text & image and video recording, to present this event to all the participating countries. As the world's largest fintech festival and an international fintech platform, Global Fintech Festival (2020) Shanghai brings together global fintech leaders, including academics, financial experts, policy makers and investors, to discuss new technologies, demonstrate innovation solutions and explore cooperation opportunities.