Westmoney is to Help Foreigners Know Chongqing Enterprises

Chongqing- From the pet economy to the new energy vehicles (NEVs), from policy dividends to capital operations, an app called "Westmoney" quickly became popular, providing one-stop fintech solutions with the introduction of the world's leading fintech technologies.

74% of users in the Asia-Pacific region

As a project jointly incubated by the University of Sanya and Saxo Financial Technology Limited (Saxo Fintech), Westmoney has become an internationally interactive community for overseas users to learn about China's investment environment, and cultural environment, and natural environment.

At present, its users have reached more than two million, including 74% in the Asia-Pacific region, and the number of monthly interactive users has reached more than 650,000.

"Investor education is one of our value directions," said Xu Fan, CEO of Saxo Fintech. "The main purpose of establishing the Westmoney is to help some enterprises go global so that foreigners can get to know our Chongqing enterprises."

Investor education focuses on issues relevant to the education and information needs of individuals who participate or are considering participating in the financial markets. In addition, investor education can also help investors better assess the relevance and suitability of investment advice.

Through gamification investment education and interactive communities, overseas KOLs are invited to join a discussion on China's financial industry, the real economy, and listed companies. This will enable overseas users to have wider access to financial knowledge. By engaging clients in a fun and intuitive way, gamification has the potential to help investors overcome financial and investment challenges, making complexity simple.

Xu continued, "At the same time, we will deliver a more authentic picture of China so that our overseas users understand the unlimited opportunities in China's capital market, sharing the new economic dividends."

Westmoney advocates equal values and cultural collision and carries out cultural export in an unofficial identity to introduce and establish for them a positive image of the real China to overseas users.

Financial opportunities for the Belt and Road countries

Xu believes that the Belt and Road Initiative will provide huge development opportunities for the financial industry. Focusing on financial technology, the company will focus on technological innovation and deeply integrate the new ideas of financial services for economic entities.

"Our original intention is to let foreigners know about China and allow them to participate in China's development," said Xu. "Some Belt and Road countries like Pakistan and Nigeria have begun to be curious about the development of the city of Chongqing, so Chongqing's products may have opportunities to go global."

"When they consider starting new enterprises in China, they may consider Chongqing to take a look," Xu continued. "Topics related to Chongqing Motorcycle manufacturers and suppliers shall be a good start." Xu hopes the platform of Westmoney will promote the diversified development of individual investment globally, especially in the Asia-Pacific region, and help overseas enterprises understand China's investment environment and enhance its market vitality. "Saxo Fintech is a technology company and an innovative financial technology enterprise."

Introducing the world's latest technology, Saxo Fintech self-developed 100% independent property rights of financial technology core products, benchmarking global leading companies and filling the domestic technology gap.

Saxo Fintech's technical staff accounts for more than 80%. Among the accumulated financial professionals, 26.62% have a master's degree or above, and 2.16% have a doctorate.

"Fintech is the key to the transformation of the financial industry," said Tan Jieyu, Deputy Director of Liangjiang New Area Modern Service Industry Bureau.

Tan continued that Liangjiang New Area will enable high-quality development with innovation, introduce more high-quality fintech enterprises, and continue to promote the construction of the core area of the Western Financial Center.

(Wang Yuxuan, as an intern, also contributed to this report.)