China's pivotal role in the global trade system makes it a key player in cross-border payments and trade, which allows its capital Beijing to gain global spotlight and become the host city of the 2024 Swift International Banker's Operation Seminar (Sibos), a signature international conference in the financial industry.
The four-day Sibos opened on Monday in Beijing, making history as this is the first time the event takes place in the Chinese mainland.
Industry insiders say as Beijing gradually rises as a financial hub in the global market, it's interesting to see Sibos being held here.
"I think Beijing is definitely a future hub and it's interesting to see the pivot to new markets, including here. So it's very exciting to be in Beijing. There's a huge move at the moment from all organizations to be more effective to try and get rid of legacy infrastructures, obviously to use the cloud more efficiently and those are the topics that we are very much at the center of at Ab Initio, so [we're] looking forward to discussing those with our customers," said Mikko Hietanen, Account Management of Ab Initio Software, an American multinational enterprise software corporation specialized in high-volume data processing applications and enterprise application integration.
"China is a huge financial hub in the world. I think that's part of the reason why SWIFT (Society for Worldwide Interbank Financial Telecommunication) chose Beijing, because in particular, all these years, the Western hemisphere has already frequently [served] as the host. Now is a really perfect time for a shift to have it in Asia, particularly in Beijing," said Rifki Ega Syahputra, Head of International Financial Institutions at Bank Mandiri, the largest bank in Indonesia in terms of assets, loans and deposits.
This year's Sibos gathers nearly 10,000 participants from over 150 countries and regions to discuss banking and payments, technology and innovation, and environmental, social and governance strategies.
Under the theme "Connecting the future of finance", the event is set to promote communication between China and international financial institutions and drive the financial digital transformation.
Beijing hosts global financial services networking event for first time
Macao has been emerging as a global hub for conventions and exhibitions in recent years by exploring the enormous opportunities in the sector, driving the region to advance its economic diversification and embrace a brighter future.
Macao has received many awards this year, such as the Best Convention City (Asia) and the Best BT-MICE City, showcasing the recognition for and influence of Macao's exhibition industry.
More than 1,000 electronic game enthusiasts from all over the world gathered recently in Macao to participate in a esports themed event.
Su Zhili, organizer of the event, said that Macao's rich experience in hosting large-scale events, coupled with its good infrastructure, has driven him to choose the region as an ideal destination to hold such an activity.
"Macao has held many similar large-scale events. It has rich experience, and the facilities at the venue are relatively mature, so we can start our work comfortably," said Su.
During the first three quarters of 2024, Macao held more than 1,000 conferences and exhibitions in total.
"We will invite more professional, special conferences to be held in Macao and also cultivate more exhibition brands with international influence in Macao, so as to promote Macao's exhibitions to be more market-oriented, professional, international, digital and greener from various aspects. This is our goal," said Elaine Wong, member of the Macao Commerce and Investment Promotion Institute.
In addition, multiple large exhibitions and conferences, such as the Macao International Trade and Investment fair, the Macao Franchise Expo, and the International Infrastructure Investment and Construction Forum, are held regularly in Macao.
With the introduction of a series of policies and measures to facilitate the exchanges between the mainland and Macao, as well as the construction and development of the Guangdong-Hong Kong-Macao Greater Bay Area and the Guangdong-Macao In-Depth Cooperation Zone in Hengqin, Macao's convention and exhibition industry will embrace more opportunities for development in the foreseeable future.
"We have such a good industrial base in the Greater Bay Area. The mode of 'Convention and Exhibition + Industry' not only integrates the industries of Macao, but also the industries of the Greater Bay Area. In addition, Macao actively integrates into the national development and plays a role in the Belt and Road. Why are we so confident in Macao's convention and exhibition sector? Because it is backed by the motherland, and the country gives Macao great support," said Alan Ho, chairman of the Macao Association of Convention, Exhibition and Tourism Sectors.
Macao emerges as global hub for conventions and exhibitions, driving economic diversification and international recognition
