Chongqing and Shanghai Sign Memoranda of Understanding on Financial Cooperation

Cheng Keqiao in Businessnews

Signing ceremony of the 2018 New Financial Summit of Jiangbeizui (courtesy of the host of the Summit)

By Keqiao Cheng, iChongqing News

Jiangbeizui of Chongqing and Lujiazui of Shanghai are the financial centers of the upper and the lower reaches of China’s Yangtze River, respectively. Finally, the two places had the chance to “meet” each other.

Chongqing and Shanghai eager for financial cooperation

At the opening ceremony of the 2018 New Financial Summit of Jiangbeizui (hereinafter referred to as the Summit), held this Wednesday, December 19 in Jiangbei District of Chongqing, the government of Jiangbei District (Chongqing) signed memoranda of understanding with the Financial Service Bureau of Shanghai Pudong New Area and the Administration Bureau of Lujiazui of China (Shanghai) Pilot Free Trade Zone Administrative Committee, respectively. The goal aims at financial cooperation and construction of the Belt and Road Initiative and the Yangtze River Economic Zone.

Roundtable of the Summit (courtesy of the host of the Summit)

Focused on “New Era, New Finance, and New Techs”, the Summit set up an international-level platform for local governments, regulatory authorities, financial experts and scholars to dialogue. The issues discussed at the Summit include the intelligent finance, the innovation and risk prevention in the financial sector, techs in future finance, and the financial innovation of China.

Chongqing strives for building the most authoritative financial forum of western China

The event was a good opportunity for Chongqing to dialogue with the world on financial issues. Also, by holding this summit, Jiangbei District successfully showcased its achievements in opening-up and innovation in the financial field. In addition, Jiangbei is planning to build the Summit into the most authoritative financial forum of western China.

Nowadays Jiangbeizui CBD of Chongqing (photo by Zeng Yong)

15 years ago, Jiangbeizui CBD was a shanty town in central Chongqing city. However, it is now the new icon of the financial industry of Chongqing.

In terms of the Lujiazui Finance & Trade Zone of Shanghai, it has been one of the most influential and mature financial centers of the whole country. From now on, Jiangbeizui and Lujiazui will actively promote cooperation in the fields of industrial development, investment and personnel exchange, among others.