Conference highlights strategic initiatives aimed at bolstering the development of Western China's financial hub

CHONGQING,China,Dec. 1,2024 -- The 5th Jiangbeizui New Financial Conference was held on November 28 at Chongqing Financial Convention and Exhibition Center,gathering over 500 participants from local government agencies,regulatory authorities and financial institutions. The conference focused on discussions and strategic planning for the development of the Western Financial Center.

Jiangbei District is home to a quarter of the city's financial institutions. The district is a major player in the city's economy,with its financial sector accounting for one-fifth of both local and foreign currency deposits and loans. Jiangbei also leads in the number or listed companies and their market capitalization.

Tao Shixiang,Secretary of Jiangbei District Party Committee,highlighted the district's leading economic performance,"Finance-led industries have fueled Jiangbei's rapid economic growth,with the district's GDP soaring 7.6% in the first three quarters,ranking first in the city."

A key event at the conference was the signing of a memorandum of cooperation between the Institute of Directors (IoD) of the City of London and the Chongqing Jiangbeizui Central Business District Management Committee. Additionally,Zhou Hehua,Executive Deputy Director of Chongqing Municipal Financial Office and Director of the Chongqing Local Financial Supervision and Administration Bureau,unveiled the White Paper on the Development of the Western Financial Center (Chongqing).

The Jiangbei District Government,in collaboration with the China Insurance Asset Registration and Trading System,Xinhua Finance Western Center,and several banks and insurance firms,launched the Insurance Funds Entry into Chongqing Service Platform. Two innovative projects were also unveiled: the Western Certified FinTech Training Base and the Joint Laboratory for Digital Government Innovative Applications. A report on the key performance indicators for the Upper Yangtze River was released during the ceremony,offering a detailed quantitative analysis of the river's expanding role as an inland shipping hub—a development greatly bolstered by the integration of rail-water intermodal transport..

The conference featured keynote speeches from a panel of distinguished financial leaders,including Xiao Gang,former Chairman of China Securities Regulatory Commission; Zhou Yanli,former Vice Chairman of China Insurance Regulatory Commission; John McLean,Chairman of the City of London IoD and Chairman of the China UK Business Development Centre,shared insights into London's evolution into one of the world's most important financial hubs.