New Fintech Innovation Coordination Platform Launched in Beijing Draws 62 Members


A new platform for fostering cooperation on fintech innovation has just been launched in Beijing, drawing a total of 62 member organisations.

The “2019 Beijing Fintech Coordination Innovation Forum and Fintech Coordination Innovation Platform Announcement Conference” (2019北京金融科技协同创新论坛暨金融科技协同创新平台发布会) was held by the Beijing Haidian District People’s Government and the China Banking Association on 21 May in Beijing.

A total of 62 initial members of the platform were publicly announced at the event, with the representatives of 40 members executing a coordinated innovation platform accord at the event.

In 2018 the Beijing municipal government called for the city’s Haidian district and Xicheng district to establish a “Beijing Fintech and Professional Services Innovation Zone” (北京金融科技与专业服务创新示范区).

The Haidian People’s Government subsequently teamed up with the China Banking Association to launch the Fintech Coordination Innovation Platform (金融科技协同创新平台), to focus on the “two wings” of high-quality fintech enterprises and financial institutions, and high-level intermediary services organisations and specialist teams.

According to the platform its objectives are to “make full use of the Zhongguancun Fintech Industry League and other industry organisations, encourage widespread cooperation between upstream and downstream industry segments, develop a big data ecosystem, explore the integration of the data of various government departments, help financial organisations to raise their credit services and risk management levels, establish fintech incubators, and support innovation and entrepreneurship by fintech personnel.”

The platform will also “focus on areas including artificial intelligence and big data; integrate leading companies and elite technical research and development capabilities via strengthened information integration and data sharing; explore the formation of base-level technical industry standards, comprehensively open up towards industry, and expedite the provision of technology to areas where fintech is actually applied.”