BEIJING, May 22 (Xinhua) -- East China's Shanghai has recently launched the Shanghai Fintech Industry Alliance (SFIA) to advance high-end clustering and high quality development of local fintech sector, reported Xinhua Finance, a financial news platform run by Xinhua News Agency on Thursday.
SFIA is an open and nonprofit organization consisting of 44 members of financial institutions, fintech enterprises and research institutes of universities.
China Pacific Insurance (group) Co., Ltd. is among the first batch of members jointly initiating the establishment of SFIA, which is called on by Shanghai International Group (SIG) under guidance of Shanghai branches of Chinese central bank, Chinese banking and insurance regulator and securities watchdog, and a local financial regulator.
In the future, SFIA is expected to function as an open platform integrating fintech related production, study, research and investment. (Edited by Duan Jing with Xinhua Silk Road, firstname.lastname@example.org)