Morgan Stanley, UBS and 43 foreign financial institutions to join CIFTIS

As of Aug 9, the China International Fair for Trade in Service, which will be held in September, has already attracted 43 foreign financial institutions from 18 countries and regions across the globe, accounting for over 60 percent of total exhibitors in the comprehensive showcase area for the financial service sector. Morgan Stanley, UBS, Deutsche Bank and 26 of the world's top 500 are confirmed to participate in the exhibition, the Beijing News reported Sunday.

Huo Xuewen, head of the Beijing Local Financial Supervision and Administration Bureau, said at a news conference that over 100 financial institutions from home and abroad would participate in the exhibition online or offline. "We have also successfully invited 43 foreign-funded financial institutions to join the fair, including Morgan Stanley, UBS, Deutsche Bank, Daiwa Securities, Goldman Sachs and Oaktree Capital, covering a wide range of countries like the United States, Germany, France, the United Kingdom, Switzerland, Japan, Belgium and the United Arab Emirates," Huo said.

As one of eight themed sessions in this year's CIFTIS, the financial service sector focuses on "new finance, new opening-up and new development" with five major showcase areas, including the national financial management center, opening-up of Chinese financial industry, future finance and smart finance, global fortune management and how financial industry supports the global trade in service.

Beijing is to hold three financial forums during CIFTIS, including the 2020 China International Finance Annual Forum, 2020 Global PE Beijing Forum and FIN-TALK between China and foreign financial institutions.

As of Aug 9, over 80 financial professionals, investors and scholars were to participate in the three major forums. The China International Finance Annual Forum has invited high-level representatives from World Bank, IMF, Barclays Bank, Societe Generale, JP Morgan, ERGO Group and Standard Chartered. In addition, renowned economists Lin Yifu, Li Yang, Yu Yongding and Peng Wensheng will be also at present.

The China International Fair for Trade in Services, to be held from Sept 3 to 7, has been jointly hosted by the Ministry of Commerce and the government of Beijing for six continuous years.

As the largest comprehensive and leading exhibition in global trade in services industry, CIFTIS has become one of three major platforms for China's opening-up, together with the China Import and Export Fair or Canton Fair and China International Import Expo (CIIE).