From September 12 to 16, the 2024 China International Fair for Trade in Services (CIFTIS) was held in Beijing, jointly hosted by The People’s Government of Beijing Municipality and Ministry of Commerce of the People’s Republic of China. For the first time, Sichuan Province served as the “Guest Province” of the event. Chengdu Finance Week, an important platform for international cooperation and empowerment in the fields of financial openness and the development of the western financial center in Chengdu, the capital of Sichuan Province, made its debut at the China International Fair for Trade in Services (CIFTIS).
2024 Chengdu Finance Week, themed “Embracing the World: Finance Empowering Innovation”, aims to leverage the role of western financial center innovative platform for cross-border investment and financing serving the financial openness of Chengdu, Western China, and China, and supporting the international expansion of high-quality and innovative industry and finance. During this year’s CIFTIS, Chengdu Finance Week Organizing Committee, together with several host entities and partners, officially launched a series of initiatives targeting global partners from Europe, the Americas, the Middle East, North Africa, and the Asia-Pacific region. Multiple significant achievements were also announced. Chengdu Finance Week Organizing Committee Secretariat, China Association for the Promotion of Development Financing, Hong Kong Institute for International Finance, and China Innovation Finance Institute｜Chengdu, signed two strategic cooperation agreements. China Innovation Finance Institute｜Chengdu, released two flagship reports specifically prepared for Chengdu Finance Week’s first participation in CIFTIS: Rise Beyond Wealth: Global Sovereign Wealth Funds and Understand and Invest China: China Market System.
The director of Chengdu Municipal Financial Regulatory Bureau stated, “We are pleased that Chengdu Finance Week, as a platform for Chengdu’s financial openness and international cooperation, has launched its initiatives and unveiled key results at CIFTIS. We look forward to advancing open, win-win cooperation with global financial centers on a broader, deeper, and more comprehensive level, exploring greater connectivity between Chengdu and international financial markets, supporting Western enterprises in their global expansion, and encouraging international financial institutions to establish a presence in Chengdu, jointly advancing the development western financial center in the Chengdu-Chongqing area.”
Calvin Chenggang FU, Chairman of the China Innovation Finance Institute | Chengdu, during the release of Rise Beyond Wealth: Global Sovereign Wealth Funds noted that the report provides an in-depth analysis of the development history, functional positioning, country-specific allocation strategies, industry investment areas, investment management styles, sustainable investment approaches, and characteristics of China’s market allocation. It aims to help Chinese enterprises and investment management institutions improve the quality of cross-border financing decisions and enhance investment efficiency. Fu pointed out that global sovereign wealth funds are currently displaying ten key trends: a rapid expansion in asset management scale, especially in emerging markets such as the Middle East; a growing focus on investment management performance; China’s increasing influence and attractiveness; and a stronger embrace of sustainable investment agendas and transformation financial frameworks.
Guo Mingshe, Vice Director and Secretary-General of China Association for the Promotion of Development Financing , expressed high expectations for Chengdu Finance Week’s activities to demonstrate the high-quality development of Chengdu’s financial sector, enhance its international financial influence, and drive regional economic growth. She emphasized the importance of applying China’s unique development finance concepts and practices to help Sichuan and Chengdu in particular achieve even greater developmental results.
Song Min, Director of Hong Kong Institute for International Finance, expressed his pleasure at signing a strategic cooperation agreement with China Innovation Finance Institute｜Chengdu. He highlighted that through Chengdu Finance Week, both sides would work together to promote financial, innovation, and trade cooperation between Hong Kong and Chengdu. Song further noted that Hong Kong’s development as an international financial center has always focused on serving the mainland and connecting with the global economy. Chengdu’s leading role in Western China’s urban development, financial services, and industrial economy positions the city as a strong partner for Hong Kong. The two sides can deepen cooperation in areas such as capital market financing, supporting enterprises’ international expansion, and fostering international financial talent.
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