Saxo FinTech announced that it had officially launched its business in China and signed cooperation agreements with several financial institutions and enterprises in Chongqing Liangjiang New Area on November 30.

Chairman of Zhejiang Geely Holding Group Li Shufu and Danish Ambassador to China Thomas Østrup Møller attended the event.

According to the introduction, Saxo FinTech, a company jointly invested by Geely and Denmark's Saxo Bank, was set up in Chongqing Liangjiang New Area in April 2020.

Saxo FinTech will gradually introduce Saxo Bank's world-leading financial and regulatory technologies and experience to the Chinese market, fully utilize financial cloud services, big data, and artificial intelligence technologies, as well as Geely's rich industrial scenarios and localization experience.

It aims to develop further system solutions that meet Chinese customers' needs and China's regulatory requirements and provide more advanced and trustworthy financial technology solutions for Chinese financial institutions.

At the event, it signed agreements with several financial institutions and enterprises for cooperation in a variety of fields, including trading services, regulatory technology, risk management and pricing, market making systems, and cross-border trading services.

As an important engine for the sustained economic growth of Chongqing Liangjiang New Area, the financial industry features a good foundation and strong momentum.

The new area is vigorously promoting the extension of its financial services to specialization and the top of the value chain. In the first three quarters of this year, the financial sector's added value in the regions under the new area's direct management reached 29.7 billion yuan (about USD 4.55 billion), up by 6.1% year on year.