CreditEase SVP attended the FinTech forum of the 8th UK-China Economic and Financial Dialogue
London, November 14, 2016 – Senior Vice President Liu Dawei represented CreditEase at the UK-China FinTech Collaboration Forum initiated and organized by China’s National Internet Finance Association as part of the 8th UK-China Economic and Financial Dialogue (EFD) which took place in London on November 10 and 11.
During the forum, Liu joined the discussion about global development of FinTech with participants from leading domestic FinTech firms including Ant Financial, JD Finance and Tencent, as well as trade officials, FinTech practitioners from the UK and world’s top consulting firms.
The EFD, an annual event between the Chinese and the UK governments since 2008, was co-chaired by Chinese Vice Premier Ma Kai and UK’s Chancellor of the Exchequer Phillip Hammond, during which both sides shared ideas on topics including but not limited to banks, capital market, capital management, FinTech and inclusive finance, with the hope to strengthen bilateral ties and to find consensus on the global economy and finance.
This was the first time the EFD ever set a special meeting section for FinTech, illustrating that FinTech has been acknowledged as a crucial force in new finance driven by the revolution of Internet and information technologies.
Moreover, nine out of the 63 consensus points reached by the two governments this year are related to financial services. For example, the agreement on the UK-China FinTech Bridge will encourage closer regulatory and inter-governmental cooperation and provide both Chinese and UK FinTech companies reciprocal access to investment and information on market trends, and to expand presence in each market.
Both sides are also committed to deepening business-to-business cooperation to allow Chinese and UK FinTech firms to collaborate legally, to find investment opportunities, and to provide practical support for those looking to start or scale up business in the Chinese or the UK market.
Liu believes that the EFD will lead both China and the UK in the right direction and path and therefore further boost the cooperation in financial services. As a leading FinTech company in China, Liu said, CreditEase has been making continuous efforts to contribute to the development of inclusive finance and wealth management in China through innovations in ideas, models and technologies, and the company are willing to promote exchange and cooperation with FinTech and tech firms in the UK and around the world.
CreditEase is a leading FinTech company in China, specializing in small business and consumer lending as well as wealth management for high net worth and mass affluent investors. It is a Standing Committee member of China’s Internet Finance Industry Association and Chairman of Beijing Marketplace Lending Association. Its majority owned subsidiary Yirendai (NYSE: YRD), an online consumer finance marketplace, is listed on the New York Stock Exchange.