China and the Vatican have agreed to extend a provisional agreement on the appointment of bishops in the country for another four years, Foreign Ministry spokesman Lin Jian said on Tuesday.
The renewal was made following friendly negotiations between the two sides, Lin told the press.
The provisional agreement was extended twice after it was signed in 2018.
"Since it was signed in 2018, the provisional agreement regarding the appointment of bishops between China and the Vatican has been extended in 2020 and 2022 respectively. The achievements in the implementation of this agreement have been commended by both sides. The two sides, through friendly consultation, have agreed to extend the agreement for another four years. The two sides will maintain contact and talks in a constructive spirit and continue to advance the improvement of China-Vatican relations," said Lin.
China, Vatican agree to renew bishop appointment agreement
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
