China and the UK hope to expand cooperation in the fintech sphere with the launch of a collaborative industry conference in London.
The inaugural China-UK Fintech Bridge Conference was held in the City of London on 11 December, with the goal of driving cooperation between the two nations with regard to fintech innovation and application.
Over 100 figures from the Chinese and UK finance and fintech sectors took part in the conference.
Susanne Chishti, CEO of the London-based Fintech Circle, said to Global Times that”the goal of the Fintech Bridge [for China] is to work together to both invest into China and the UK market.”
The UK and Chinese governments first established the UK Fintech Bridge to China in November 2016 as part of the UK-China 8th Economic and Financial Dialogue held in London..
Sir Tom Troubridge, Vice Chair of the China Britain Business Council, said fintech was one of the three key areas for economic cooperation between China and the UK alongside the Belt and Road Initiative and green finance.
“The UK is actively engaging with leading fintech centres around the world, including China to explore mutually beneficial fintech opportunities,” said Troubridge according to a report from the Xinhua News Agency.
“Fintech is developing fast in China, mainly in application,” said Jiang Sunan, Minister Counsellor for Science and Technology at the Chinese Embassy.
“Technologies such as AI, blockchain, cloud computing and big data are profoundly changing the financial landscape…digital inclusive finance has improved the availability, possibility and controllability of inclusive finance.”
The inaugural China-UK Fintech Bridge Conference also saw the launch of the Fintech Bridge Journal, with the goal of supporting cross-border cooperation between fintech companies and investors by sharing insights and analysing opportunities on the fintech scene.