On May 16th, the research team of the Asia Digital Bank attended the special webinar on the theme of “Financial Battle, Overcoming Difficulties”, organized by Tsinghua Wudaokou Global Financial Forum. At the forum, Lu Lei, Deputy Director of the State Administration of Foreign Exchange (SAFE), released the “2020 China Financial Policy Report”, with the title of “China’s Modern Financial Governance under Marketization, Legalization, and Internationalization”, focusing on the modernization of China’s financial governance system and governance capabilities. Lu Lei pointed out that in 2019, China has made positive progress in the internationalization of finance: the financial market has been opening up steadily, accelerating the opening of major policy measures such as restrictions on foreign shares in the banking, securities, and insurance industries, and coordinating the promotion of Shanghai International Financial Center and the integration of the Yangtze River Delta and the construction of the Guangdong-Hong Kong-Macao Greater Bay Area, have formed a new high ground for financial opening. After the release of the report, Ruan Lu, Party Secretary and Director of the Chongqing Financial Supervision Bureau took Chongqing as an example to share his views and experiences on local financial reform and high-quality reform. He pointed out that Chongqing has made remarkable achievements in empowering financial innovation services with technology, and will continue to accelerate the construction of inland international financial centre with a focus on the application of financial technology and the expansion of financial opening to the outside world.
After the meeting, the research team summarized the two key points: “financial policy internationalization” and “technology empowers financial innovation” mentioned in the forum, and conducted in-depth discussions on how to combine the relevant advantages of APIB for business expansion and direction positioning. The Asia Digital Bank (AsiaDB) has accumulated considerable experience in technology development and product design related to digital finance, with the guidance of the Nanjing Application Demonstration Base of the Central Bank Digital Currency Institute and the Nanjing Digital Financial Industry Research Institute, with the support of the Malaysian Digital Economy Corporation (MDEC) and the Malaysian Institute of Economic Research, and also with the assistance of Ripple and other technical partners. Recently, the Asia Digital Bank (AsiaDB) is accelerating the pace of landing relevant operating platforms in key domestic financial cities in China. With the advantage of foreign capital and the favourable policy for financial opening, AsiaDB aims to empower the high-quality development of the real economy through “technology + finance” channel and to promote rapid linkage, intelligent management, coordinated allocation and efficient revitalization of domestic and foreign assets.