Events

In the context of the sluggish economic recovery, the world is challenged with the triple whammy of climate change, regional hotspot issues and the adversities against economic globalization. Chinese President Xi Jinping pointed out that to resolve the contradictions arising in the process of economic globalization, all countries should strive to achieve more inclusive global governance, more effective multilateral mechanisms, and more active regional cooperation. This China-EU Innovation Investment Conference is of significance to discuss the expansion of China-EU financial cooperation and promote the high-quality development of service trade.

Switzerland is aiming at combining its traditional strengths, such as high productivity, stability, security and trust, with an openness for new technological and international developments, such as fintech, artificial intelligence and sustainable finance. Previously, a working plan has been adopted to help enhance the bilateral financial market cooperation between Switzerland and China. Further cooperations in bank and wealth management as well as in insurance and reinsurance are also under discussion between China and Switzerland.

Retail participations in the financial market has increased tremendously in the last five years, whereas the increases were attributed to changes of macroeconomic conditions and emergence of new technologies. Retail investors tend to follow the market trend, and retail net buying is negatively related to the performance of market index. Exchanges are supposed to actively undertake strategies, especially those related to education, financial literacy, and offer new products to facilitate retail investment.

Hungary remains optimistic about the future development of the Chinese financial markets and recognize that science, technology and innovation along with education are key factors in driving economic growth and social progress. Hungary is also interested in the expansion of collaboration in science and technology, culture and tourism, to enhance inter-connectivity, facilitate mobility and people-to-people dialogue. Meanwhile, Hungary is keen on further strengthening the cooperation through the Belt and Road Initiative, especially in industrial recovery and sustainable development.

Achieving carbon emission peak and carbon neutrality is a strategic decision. Carbon neutrality is to promote industrial upgrading and development through scientific innovation and technological progress. Carbon neutrality is first and foremost about promoting energy transformation, and energy transformation is bound to drive industrial revolution. In the future, international cooperation in terms of energy transition, carbon neutrality and sustainable investment will focus on the cooperation on governance rules for carbon emissions reduction, technology and investment.

The central banks are supposed to properly respond to the challenges brought by digital operations and promote the development of fintech. The digital currency issued by central banks has gradually become a trend, and will be widely used in the digital age. Banks and fintech can promote financial innovation, but they also need to be supervised. We should pay attention to data privacy protection and system stability to ensure citizens’ access to safe financial services.

H.E. Dr. Mohamed Ghassan Mohamed Adnan Shaikho, ambassador of the Kingdom of Bahrain to China, stated that the advantages of investing in Bahrain include the high degree of improvement in the doing business environment, high rankings in cost-effectiveness and business friendliness, and the greatest progress among Arab countries in the women, business, and the law index, etc. The focus of economy in Bahrain has shifted to the Digital Silk Road. Bahrain is positively promoting collaboration and knowledge exchange with Chinese partners in emerging technologies such as fin-tech and artificial intelligence.

The attainment of carbon emissions peak and carbon neutrality constitutes an inherent mandate for China to achieve sustainable and high-quality development, and a necessary selection to advance the establishment of a community with a shared future for mankind. The Beijing Green Exchange will establish the national trading platform for certified voluntary emission reductions in China, and will introduce a carbon emission account, a green project database, and an environmental information disclosure platform to cater to domestic enterprises and projects. This is intended to reinforce the environmentally-friendly operations and sustainable investment and financing of enterprises and projects.

The international investment has undergone five significant transformations. These include alterations in the international division of labor, substantial modifications in the trade and transportation of goods at the global level, decreased interaction between people across international borders, the influence of geopolitical and ideological factors on the shifting international investment landscape, and the effect of financial cross-border flows and technological advancements like digital currency and blockchain, in addition to political considerations.

China and the Gulf countries are natural partners in constructing the “Belt and Road” initiative together. We should capitalize on the valuable resources of mutual understanding, solidarity and collaboration between the two sides, use the “golden key” of peace, development, collaboration and mutual gains to unlock more meaningful dialogue, pool our effort and innovation, and create a brighter future together.

H.E. Dr. Ali Obaid Al Dhaheri, ambassador of the United Arab Emirates to China, stated that the complementary and mutually beneficial trade relationship has been reestablished and developed into what could be considered a second Golden Age in China-Arab relations. UAE government and its leading entities, including the Abu Dhabi Global Market and Dubai International Financial Centre, in recognition of this opportunity, have adopted long-term strategies to liberalize the Emirati economy. In addition to financial sector, technology-driven industries including communication, education, renewable energy, aerospace, nuclear power, artificial intelligence, and automated cars, will increasingly become new points of growth in the Emirati economy that will attract further foreign investment.