Shanghai-Sydney Symposium boosts finance ties

Shanghai-Sydney Symposium boosts finance ties

NSW and Chinese finance leaders came face to face in Sydney this week to discuss joint strategies to grow the sector.

The 5th Shanghai-Sydney Financial Services Symposium strengthened financial relations between the two cities, both leading financial centres in their own right.

The NSW Government has built a strong partnership with the Shanghai Municipal Government since its 2008 Friendship Cooperation agreement, leading to a 2010 memorandum of understanding on financial services.

The symposium was an initiative under the MoU, forming part of NSW’s wider trade and investment engagement with China.

It brought together business and government representatives from Sydney and Shanghai to explore efforts to maximise opportunities for partnerships and joint ventures and overcome challenges to finance sectors.

Mr Li Jun, Deputy Director-General of the Shanghai Municipal Financial Services Office led the Shanghai delegation.

Focusing on innovation in the financial services sector, the symposium featured a session on fintech and payment systems and a panel on wealth management.

Chinese financial services companies including UnionPay and China PnR along with NSW organisations discussed the impact of technology on the financial services sector and investment and funding in the space.