The world investment centres are moving from advanced economies to more emerging economies like China and the UAE, whose investment continues to drive a new round of economic growth around the globe. This transition is also creating strong demand for investment and financing services, requiring international financial centres (IFCs) and international innovation centres (IICs) to supply diversified and even tailor-made financial products and services.
The current leading international financial centres are home to the most financial institutions, associations and regulators, as well as the largest global capital markets and talent pools. These IFCs and IICs include London, Frankfurt, Zurich, Paris, Singapore, Hong Kong, Beijing, Shanghai, Tokyo, Abu Dhabi and Astana. As the COVID-19 pandemic is ravaging the world and the global economy is witnessing a downturn, IFCs and IICs will continue to be critical global partners for the out-bound and in-bound foreign direct investment in emerging countries, as this is fundamentally significant to their economic opening and transformation.
The Federation of International Financial Centres and International Innovation Centres (IFC•IIC Federation) is a new international organization initiated by leading international financial centres in Asia, the Middle East and Europe, and it operates around the globe. The IFC•IIC Federation aims to capitalize on the capacity and resources of major IFCs and IICs, promote multilateral investment and financing cooperation, and build a global ecosystem as well as the platform infrastructure to facilitate innovation investment and financial services between advanced and emerging markets.
The IFC•IIC Federation is going to facilitate governments and enterprises of emerging economies to achieve quality solutions — from leading IFCs and IICs to finance their innovation investment and economic growth to improving efficiency and reducing costs toward sustainable development.