People visit an exhibition of financial services during the 2022 China International Fair for Trade in Services (CIFTIS) at the Shougang Park in Beijing, capital of China, Sept. 4, 2022. (Xinhua/Hao Zhao)
BEIJING, Sept. 5 (Xinhua) -- A thematic exhibition on financial services of the 2022 China International Fair for Trade in Services (CIFTIS) is presenting the world with the enormous potential of China's financial market and great vitality of financial development in the Chinese capital, reported Beijing Daily on Sunday.
Being held during September 1-5 in the Shougang Park in Beijing, the thematic exhibition on financial services attracted 181 financial institutions and enterprises from home and abroad, hinting a widening "friends circle" for the event.
Covering an exhibition area of 14,000 square meters, this year's financial services thematic exhibition takes "Opening-up and Integration for a Green Future" as the theme and is divided into six exhibition areas designed to showcase finance plus big power, finance plus opening up, finance plus digital economy, finance plus people's livelihood, finance plus low carbon cycle, and finance plus reform and innovation.
-- Fintech with sense of future highlighted at 2022 CIFTIS
In the exhibition areas for the thematic exhibition, a large batch of financial technologies (fintech) and financial services full of the sense of future approach the public, including the driverless financial service vehicle, unmanned digital currency payment experience vehicle, virtual narrator, etc.
By bringing visitors all of these, financial institutions and sci-tech companies are displaying from different aspects the profound integration between innovative fintech and finance.
At the exhibition booth of Industrial and Commercial Bank of China, new concepts including metaverse and new technologies such as virtual reality (VR) and block chains are exhibited via motion capture and virtual image mapping to provide visitors the immersive experience.
For instance, its "metaverse interactive experience" scene allows visitors to form, after scanning the code, a personal image in the virtual scene and conduct business of five categories such as credit card application by controlling their virtual personal images through the joystick.
At another booth, the Beijing branch of Postal Savings Bank of China rolled out the "YOU commercial street" for visitors to experience immersive consumption by applying the VR technology.
When putting on the VR glasses, visitors feel immediately as if they were in the peach or grape gardens in suburb areas of Beijing, picking and weighing fruit by themselves and after obtaining the digital Renminbi wallet, placing an order and paying, they can wait for fresh fruit to be delivered to their homes.
Elsewhere, China Construction Bank applied the naked eye 3D and VR real scene technologies in its booth and visitors experiencing the VR driving learning can accumulate certain class hours at its mobile application named "CCB Life" while reducing carbon emissions.
Ant Group, which also established a booth at the area for thematic exhibition on financial services, has exported the mobile payment, security technology solution, homegrown native distributed databases and block chain technologies to emerging markets such as Southeast Asia and Africa.
-- Foreign-funded institutions embracing China market via CIFTIS
Alongside the accelerating reform and opening-up of China's financial industry, foreign-funded financial institutions become important partners for local financial institutions to join hands with in propelling high-quality industry development.
This year, more than 40 foreign-funded financial institutions from over 20 countries and regions in the world have taken part in the 2022 CIFTIS exhibitions and forums.
Compared with 2021, the joint exhibition area for international financial centers and innovation centers at this year's CIFTIS attracted global participants with greater industry influence and more diversified types, which include international organizations, government and regulatory authorities, foreign embassies and consulates in China, professional associations, and leading financial and innovative companies as well.
Consecutive participation by representative institutions from global-leading international financial centers and international innovation centers highlighted their solid confidence in the sustainable development and inclusive growth of China, said Fu Chenggang, organizer of the joint exhibition area and president of the working group for CIFTIS forums this year.
As the financial services and innovative investment sectors in China have huge business opportunities, representative international financial institutions are expecting to take advantage of the CIFTIS to deepen cross-border investment and financing cooperation with Chinese financial institutions, Fu added. (Edited by Duan Jing with Xinhua Silk Road, duanjing@xinhua.org)
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