A group photo of representatives of SFIA's member entities at the 2nd Meeting of the 1st Council of SFIA

On the afternoon of October 27, the 2nd Meeting of the 1st Council of the Shanghai Fintech Industry Alliance (SFIA) took place at Shanghai Chengchuang Fintech International Industrial Park. Liu Xinyi, Chairman of SFIA and President of SIG; and Guo Mang, Co-Chairman of SFIA and Vice President of the Bank of Communications (BOCOM) hosted the meeting. Deng Weili, Secretary General of SFIA and Chairman of SIG Asset Management Co., Ltd. (SIGAM), delivered a work report. Present were leaders of the People's Bank of China (PBC) Shanghai Head Office, the Shanghai Municipal Financial Regulatory Bureau (SMFRB), the China Banking and Insurance Regulatory Commission Shanghai Bureau, the China Securities Regulatory Commission Shanghai Bureau and other advisory entities, representatives of SFIA's member entities and other representatives.

Liu Xinyi, Chairman of SFIA and President of SIG

Liu welcomed the advisory entities and member entities, briefed the agenda of the meeting, and provided an outlook on SFIA's key work and goals for the next stage based on the overall requirements of the Shanghai Municipal People's Government and the progress of Shanghai in fintech center building.

Guo Mang, Co-Chairman of SFIA and Vice President of BOCOM

Guo said, SFIA has shown three distinct features over the 5 months since its founding: its member coverage has expanded gradually; its industrial influence has kept growing; and its work focus has become clearer. He suggested finding the right development direction of SFIA, making it better serve the real economy, and constantly enhancing its influence, to build it into a Shanghai sample for open cooperation in fintech, form Shanghai standards at the business and technical levels, give play to its demonstrative role in the Yangtze River Delta (YRD) and China, and provide beneficial reference for fintech development in other areas.

Shi Jiandong, Chief of the Science & Technology Division, Financial Service Department II, PBC Shanghai Head Office

Shi spoke highly of SFIA's efforts and raised higher expectations for its future. Since its founding, SFIA has served national strategies, built an application demonstration zone and an international cooperation zone, and created a fintech agglomeration zone and a window of demonstration based on Shanghai Chengchuang Fintech International Industrial Park. As a member of the working group on pilot fintech innovation regulation in Shanghai, the SFIA Secretariat has played a positive role in the pilot work and served as a bridge between financial institutions, tech companies and regulatory departments. He hoped that SFIA would keep growing, promote the agglomerative development, cooperation and exchanges, demonstration and promotion, and achievement transformation, provide better services to member entities, and better serve the building of Shanghai Fintech Center.

Zhao Huan, Chief of the Supervision Division III, SMFRB

Zhao offered three suggestions on SFIA driving the building of Shanghai Fintech Center: firstly, SFIA should further strengthen service and communication between member entities, to jointly promote fintech innovation; secondly, SFIA should continue to strengthen information exchanges, and create a rich policy atmosphere throughout the city in forms such as seminar and training; lastly, SFIA should continue to cultivate the fintech industry chain, including advanced technology research, application scenario development and fintech enterprise agglomeration.

Deng delivered a recent work report of SFIA, reviewing SFIA's efforts in coordinating innovation regulation, accelerating innovation center building, preparing for the annual summit, launching the bi-monthly and promoting fintech integration in YRD. Relevant documents, including the Proposal on Adding Member Entities of the Alliance, the Proposal on Co-opting Vice Chairmen, Deputy Secretaries General and Council Members of the Alliance and the Proposal on Replacing Some Vice Chairmen and Deputy Secretaries General of the Alliance, were adopted at the meeting upon deliberation. 5 institutions, including China Trust Registration Co, Ltd., Shanghai United Assets and Equity Exchange (SUAEE), Shanghai Equity Exchange, China Economic Information Service and Deloitte Consulting (Shanghai) Co., Ltd., were added to SFIA to increase the total number of its members to 49.

On behalf of the new member entities, SUAEE and Deloitte delivered speeches. Niu Ren expressed thanks to SFIA, said SUAEE would fully support SFIA, give full play to its advantage in financial collaboration in YRD, and carry out exchanges and integrate resources with other member entities, in a joint effort to promote the building of Shanghai Fintech Center. Liu Minghua said Deloitte has the great honor to be part of SFIA, as an institution with a global platform and background, Deloitte is eager to support SFIA with its global resources and links, and team up with the other member entities to grow together and achieve brilliant results in fintech.

Scene of the 2nd Meeting of the 1st Council of SFIA

The 2nd Meeting of the 1st Council of SFIA is of great importance. As the first plenary meeting of SFIA, the meeting made overall arrangement for SFIA's next-stage work. In the future, SFIA will continue to promote the transformation of advanced technologies and the development of key technologies in the fintech field, advance the collaborative innovation and crossover integration of the industry, build a fintech innovation industry cluster based on SFIA's physical carrier, and create an array of "Shanghai standards" for technical and business innovation in the fintech field, to contribute the "power of Shanghai" to global fintech development.

Scene of the 2nd Meeting of the 1st Council of SFIA