Xinhua Silk Road: Experts meet to discuss financial technology innovation, development and Chengdu’s role as fintech highland

BEIJING, Jan. 15, 2024 /PRNewswire/ — A number of well-known experts in financial sector gathered at the Jiaozi Financial Museum on Friday, a cultural landmark in Chengdu, capital city of southwest China’s Sichuan Province, to jointly explore the path of financial technology innovation and development, aiming to accelerate the building of Chengdu as a financial technology development highland.

Photo shows the Jiaozi Financial Museum, located in Chengdu, capital city of southwest China's Sichuan Province.

Chengdu has a long history of financial innovation. One thousand years ago, the world’s earliest paper money called Jiaozi was born here.

In recent years, under the goal of building a western financial center in the country’s southwestern ChengduChongqing area, Chengdu has promoted the financial technology industry to build a strong chain, strengthened the application of financial technology innovation, and continuously gathered the financial technology industry represented by big data, cloud computing, artificial intelligence (AI), blockchain and Internet of Things.

Chengdu has a solid financial industry background, with national demonstration zones such as the National Independent Innovation Demonstration Zone and the National New Generation Artificial Intelligence Innovation and Development Demonstration Zone, and rich scientific and educational resources. It is a dream capital and a dynamic city for innovators and entrepreneurs, said Liang Qizhou, Director of the Chengdu Municipal Local Financial Regulation Bureau.

In the latest edition of the Global Financial Centres Index (GFCI34), Chengdu’s financial technology specialty ranks 18th in the world, 4th in Chinese mainland cities, second only to Shenzhen, Shanghai and Beijing, ranking the first in the central and western regions in China.

Through continuous efforts in recent years, Chengdu’s financial technology development system and mechanism have been continuously improved, and the national financial technology innovation pilot has been landed. Chengdu’s financial technology shows a good development trend of high activity, good growth and strong innovation, with its influence and radiation are constantly improving, Liang added.

Li Zheng, vice president of the Central University of Finance and Economics, believes that the source of financial technology innovation lies in the financial technology ecology. To achieve the overall improvement of financial services to the real economy in terms of speed, breadth and precision, it is necessary to continuously improve the quality of finance itself and better serve the real economy by integrating new technologies such as AI.

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