The 2018 China-US Economist Fintech Innovation Forum (中美经济学家金融科技创新论坛) was recently held at Stanford University.
Around 200 academics, economists and entrepreneurs took part in the event on 28 August, discussing fintech areas such as the blockchain as well as economic development and cooperation between China and the United States.
Yin Qingshuang (尹庆双), vice-chancellor of Chengdu’s Southwestern University of Finance and Economics (SWUFE), said to Xinhua that the fintech was a double-edgd sword, requiring a legal restraints, administrative supervision, industry self-discipline, institutional internal controls and public oversight.
According to Yin the growth and joint regulation of fintech will require widespread international cooperation, and the US should cooperate with China to advance the coordinated development of fintech across multiple disciplines and countries.
“Entrepreneurs in the US and China should continue to collaborate and cooperate, and look for the opportunities,” said Franklin Urteaga, former White House tech advisor.
“You cannot innovate in a bubble…I really believe that we need to do more with China-US cooperation.”
The 2018 forum marks the third occasion that the annual fintech event has been held.