Sovereign Wealth Management and Innovation Investment:
New Development and New Factors of CIFTIS 2022

Published： September 25, 2022
Categories： Events & Activities

From August 31 to September 5, 2022, the 2022 China International Fair for Trade in Services (CIFTIS), co-organized by the Ministry of Commerce and the Beijing Municipal People’s Government, was held at the China National Convention Center and Shougang Park.

During this event, Federation of International Financial Centers and International Innovation Centers, National Academy of Development and Strategy of Renmin University of China, Tsinghua University PBC School of Finance, China Overseas Development Association, China Association for the Promotion of Development Financing, and China Innovation Finance Institute hosted three special international forums: Global Sovereign Wealth Fund Forum, China-Europe Innovation Investment Conference, and China-Gulf Innovation Investment Conference, in partnership with Beijing Chaoyang District Government.

The three forums focused on major themes on sovereign wealth management, as well as cross-border innovation investment and financial service cooperation in the Middle East and Europe, regions with strong economic ties to China. The forum covered more than ten topics on financial services, innovation investment, innovation finance, sustainable finance, inclusive finance, digital finance, energy finance, sovereign wealth management, International Financial Center and International Innovation Center, etc. Speakers discussed the medium and long-term cooperation opportunities in these areas. The forum invited more than 80 speakers representing over 20 countries and 50 institutions, including officials, ambassadors, business leaders and scholars to attend. Discussions are conducted based on multilateral and global perspectives around development trends, opportunities and challenges, best practices and solutions.

With the spirits of “Invest for a Sustainable & Inclusive Future”, Global Sovereign Wealth Fund Forum focused on the global asset allocation of sovereign wealth funds (SWF); in particular, on key issues such as SWF, asset allocation to emerging market, liquidity management, climate mitigation investment management and risk management. A number of experts from SWFs, AMCs and policy sphere attended the conversations. The forum, which made its debut at CIFTIS, focused on China’s investment opportunities and openness, providing a platform for global sovereign institutional investors and asset managers to gain an in-depth understanding of China’s medium and long-term development dynamics and potential, especially how sustainable investment can drive China’s inclusive economic growth and overall high-quality development, and to exchange and cooperate with each other.

The China-Europe Innovation Investment Conference, with the spirits of “China-Europe Partnership: Shape an Innovative and Sustainable Future”, made in-depth discussion on China-Europe economic, trade and investment cooperation, sustainable and climate change investment, digital finance and financial inclusion to empower the development of financial services. The Forum invited leading speakers from financial regulators, financial and innovation enterprises, international organizations, think tanks, and embassies in China to discuss experiences and practices. The experts at the conference contended that the prospect of China-Europe economic cooperation relies upon the promotion of extensive cooperation in innovation industry and financial service industry on the basis of China-Europe service trade; both Chinese and European enterprises will continue to emerge numerous business opportunities in the field of innovation economy and financial services. Especially in new technology fields like environmental protection, service trade, artificial intelligence, life science, and digital economy of China and Europe, it arrives at the agreement that finance is bringing new impetus to their respective economic growth. China and Europe have complementary advantages in industry, capital, market, and talents, a deep and extensive tradition of cooperation, and continue to champion open and multilateral cooperation, with highly promising prospects.

The China-Gulf Innovation Investment Conference, with the spirits of “China- Arab Partnership: Shape an Innovative and Sustainable Future”, brought together representatives from the Gulf Cooperation Council (GCC) countries and speakers of their neighboring Central Asia and MENA regions to discuss medium and long-term cooperation in key areas with senior Chinese experts. Sino-Arab economic investments, in addition to continued robust infrastructure and energy cooperation, sparked discussions among the guests, including topics on the digital economy, digital finance, climate change investments, financial technology, wealth management, medicine and health, high-end manufacturing, artificial intelligence, new energy, and many other emerging areas. The participants widely exchanged practices and suggestions around questions: how the Gulf countries better invest in China, how to participate in the development of China’s key regions and thus share China’s long-term development dividend, how Chinese innovation enterprises can leverage the Gulf countries to explore the blue ocean of EMNA markets, and how both sides can enhance the financial services and investment and financing services along the Belt and Road Initiative. In particular, they exchanged in-depth views on the hot areas of green economy transformation, innovation economy development, and open economy cooperation, which are common concerns and responsibilities of China and Arab.

The International Finance and Innovation Centers Joint Exhibition (Joint Exhibition) advocates “Finance Empowers Sustainable Innovation, Investment Advances Inclusive Growth” this year, invited over 50 representative institutions from 15 leading international financial and innovation centers in over 20 countries and regions in Europe, Middle East and Asia Pacific to participate. Invited institutions showcased best practices in financial services, innovation investment, science and innovation industry, cross-border investment and financing around innovation, financial and innovation infrastructure, sustainable finance, development finance, innovation finance, Fintech & Regtech, wealth management, etc. With a stronger regional representation, greater industrial impact, and more diversified institutions, the Joint Exhibition covered a wide range of international organizations, government and regulatory authorities, embassies in China, professional associations, and leading financial and innovation companies. More than 50 institutions, including City of London, Abu Dhabi Global Market, Astana International Financial Center, World Federation of Exchanges, Embassy of Luxembourg in China, Embassy of Switzerland in China, Embassy of the UAE in China, Embassy of the Kingdom of Bahrain in China, Embassy of Hungary in China and the Central Bank of Hungary, ICES, Hong Kong Stock Exchange, Luxembourg Stock Exchange, Astana International Exchange, MOX Macau and several sovereign wealth funds participated.

On the forums and Achievement Release event, a number of milestone projects are delivered, including report launch, cooperation platform launch, and MOU singing ceremony.

International Speakers

H.E. Mr. Mervyn King，Baron King of Lothbury

Former Governor of the Bank of England

Alan Greenspan Professor of Economics and Professor of Law at New York University

Emeritus Professor of Economics at the London School of Economics

H.E. Sir. Danny Alexander

Vice President, Asian Infrastructure Investment Bank (AIIB)

H.E. Dr. Marc Hübsch

Ambassador, Embassy of Luxembourg to China, Mongolia and Pakistan

H.E. Dr. Ali Obaid Al Dhaheri

Ambassador of the United Arab Emirates to the People’s Republic of China

H.E. Dr. Mohamed Ghassan Mohamed Adnan Shaikho

Ambassador of the Kingdom of Bahrain to the People’s Republic of China

H.E. Mr. Rahul Ahluwalia

Minister-Counsellor, British Embassy to China

H.E. Ms. Suzanne Streit

Counsellor, Head of Economic, Financial and Commercial Section a.i. Embassy of Switzerland in China

H.E. Mr. László Havas

Minister of Financial Affairs, Embassy of Hungary to China

H.E. Mr. Alessandro Golombiewski Teixeira

Professor, Public Policy at School of Public Policy and Management at Tsinghua University

Former Minister of Brazilian Ministry of Tourism

Former President of Brazilian Agency for Industrial Development

Ms. Nandini Sukumar

Chief Executive Officer of the World Federation of Exchanges

H.E. Mr. Yernur Rysmagambetov

Chairman, Management Board of AIFC Authority

Astana International Financial Centre (AIFC)

Ms. Julie Becker

Chief Executive Officer of the Luxembourg Stock Exchange

Founder of Luxembourg Green Exchange

Mr. Renat Bekturov

Chief Executive Officer of Astana International Exchange

Ms. Anikó Szombati

Chief Digital Officer, Executive Directorate for Digitalization at Magyar Nemzeti Bank

Mr. Làszló Bencsik

Deputy CEO and Chief Financial and Strategic Officer of OTP Group, Member of OTP Group

Mr. Wai Lum Kwok

Senior Executive Director of Financial Services Regulatory Authority

Abu Dhabi Global Market

Mr. Kuanysh AMANTAY

General Representative in China and East Asia, Kazakh Invest National Company

Dr. Massimiliano Castelli

Head of Strategy of Global Sovereign Markets and Managing Director, UBS

Mr. Diego López

Founder and Managing Director of Global SWF

Chinese Speakers

H.E. Mr. LOU Jiwei

Standing Committee Member and Chairman of the Committee of Foreign Affairs, the 13th CPPCC National Committee

Chairman, Society of Public Finance of China

Vice-Chairman, China Economic and Social Council

Former Minister, Ministry of Finance of the People’s Republic of China

Former Chairman and CEO, China Investment Corporation

Former Chairman, National Council for Social Security Fund

H.E. Mr. JIN Wei

Member of Standing Committee of CPC Beijing Municipal Committee,

Member of the Party Leadership Group of the People’s Government of Beijing Municipality,

Vice Mayor of Beijing

H.E. Mr. ZHAI Jun

Special Envoy of the Chinese Government on the Middle East Issue

Former Vice Minister, Ministry of Foreign Affairs of the People’s Republic of China

Mr. WU Jianli

Vice Chairman and Member of the Party Leadership Group, National Council for Social Security Fund

H.E. Mr. ZHOU Yanli

Member, the Economic Committee of CPPCC

Former Deputy Party Secretary and former Vice Chairman of the China Insurance Regulatory Commission（CIRC）

H.E. Mr. GAO Xiqing

Chair Professor, University of International Business and Economics

Former Vice Chairman, Chief Investment Officer and President, China Investment Corporation

Former Vice Chairman, National Council for Social Security Fund of China

Former Vice Chairman, China Securities Regulatory Commission

H.E. Mr. FU Chengyu

Former Chairman of China Petrochemical Corporation (SINOPEC)

Founder of International Institute for Carbon Neutrality

Vice Chairman of Beijing Energy Club

Ms. ZHAO Haiying

Executive Vice President and Chief Strategy Officer, China Investment Corporation

Mr. CHEN Yang

Party Secretary and Director-General, Local Financial Regulatory Bureau of Hainan Province

Mr. WANG Yi

Vice President of Renmin University of China

Mr. YAN Jinming

Executive Dean of National Academy of Development and Strategy, Renmin University of China

Ms. ZHANG Xiaoyan

Associate Dean, PBC School of Finance, Tsinghua University

Deputy Director of National Institute of Financial Research at Tsinghua University

Deputy Director of Institute of Fintech Research at Tsinghua University

Mr. TIAN Xuan

Associate Dean, PBC School of Finance, Tsinghua University

Associate Dean of the National Institute of Finance of Tsinghua University

Ms. WANG Wei

Director, Institute of Market Economy, Development Research Center of the State Council

Mr. FENG Zhongping

Director of Institute of European Studies of Chinese Academy of Social Sciences

Director of Chinese Association for European Studies

Mr. NIU Xinchun

Director General and Research Fellow, Institute of Middle East Studies at China Institute of Contemporary International Relations

Mr. WANG Lincong

Deputy Director-general of Institute of West-Asian and African Studies, Chinese Academy of Social Sciences

Vice-President of the China-Africa Institute

Vice-President of the Chinese Association for Middle East Studies

Mr. CHEN Chao

Director of Research Institute, China Investment Corporation

Mr. WANG Qing

Deputy director of the Institute of Market Economy of the Development Research Center of the State Council

Mr. CHEN Daofu

Deputy Director General

Financial Research Institute of the Development Research Center of the State Council

Mr. HE Zhenwei

Chairman of China Overseas Development Association

Ms. GUO Mingshe

Vice President & Secretary-General, China Association for Promotion of Development Financing

Mr. YANG Tao

Deputy Director of National Institution for Finance & Development

Director of Research Center for Payments & Settlements

Mr. GUAN Tao

Global Chief Economist and Managing Director, BOC International (China) Co., Ltd

Dr. HUANG Haizhou

Managing Director and Chairman of Capital Market Committee, China International Capital Corporation

Mr. WANG Naixiang

Chairman of China Beijing Green Exchange (Former China Beijing Environment Exchange)

Mr. YU Liming

Executive Board Member, First Deputy CEO, CNIC Corporation Limited

Mr. LU Ruquan

Vice President of CNPC Economics & Technology Research Institute (CNPC ETRI)

Deputy Director of CNPC Research Center of China Top Think Tanks

Mr. LU Ting

Chief China Economist and Managing Director, Nomura

Mr. XIAO Geng

Director, Institute of Policy and Practice of Shenzhen Institute of Finance

Chairman, Hong Kong Institution for International Finance

Mr. ZHAO Xiaopeng

Chairman of ZGC International holding limited

Mr. Tai Hui

Managing Director, Chief Market Strategist, APAC, J.P. Morgan Asset Management

Ms. Lisa Li

Executive Director, Department of International Affairs, Shanghai Stock Exchange

Vice Chair, Sustainability Working Group, World Federation of Exchanges

Mr. WEI Chenyang

Associate Dean, Institute for Fintech Research at Tsinghua University

Director, China Insurance and Pension Research Center at Tsinghua PBC School of Finance

Secretary General, Global Forum of Real Estate Finance at Tsinghua PBC School of Finance

Mr. ZHOU Daoxu

Director of the Financial Security Research Center of Institute of Financial Research(IFR), Tsinghua University

Mr. MA Aimin

Deputy Director, National Center for Climate Strategy and International Cooperation

Mr. YU Jiantuo

Deputy Secretary-General, China Development Research Foundation (CDRF)

Mr. Calvin Fu

President, IFC & IIC Federation China

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Julie Becker: Prioritising Innovation-Sustainable Investment at LGX

As the premier listing venue for international bonds, the Luxembourg Stock Exchange has been working very closely with Chinese issuers for several years to facilitate their access to international capital markets and investors. And this cooperation with China has naturally expanded into the field of sustainable finance. Many successful joint initiatives with the Chinese partners have been developed in recent years, notably in the fields of information dissemination and indexes, etc. And these opportunities all capture the power that the finance industry has to propel innovative sustainable investment opportunities that improve inclusive growth.

H.E. Mr. WU Jianli: Implementing the New Development Concept to Foster a Sustainable Investment Landscape

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H.E. Mervyn King: Global Inflation and Resources Redistribution under Radical Uncertainty

We live in a world of radical uncertainty. We hope that governments and central banks can rise to the challenge, ensuring prosperity in the years ahead. Many of these challenges will require greater understanding and cooperation between countries. Despite the rising tensions between the United States and China, the future of the world depends on greater collaboration between them to ensure the growth of prosperity of all countries in the world. The responsibilities of the United States and China are both great, but the rewards are greater still.

H.E. Mr. LOU Jiwei: Innovative Exploration for the Development of Sovereign Wealth Funds in China

China Investment Corporation (CIC) is recognized as a sovereign wealth fund that conforms to international norms. Over the past 15 years, the CIC has been following mechanisms: to diversify investment centered on asset allocation; to adhere to financial investment and responsible investment; to establish a transparent and standardized management system, and a investment decision-making and risk management mechanism; and to implement a long-term investment philosophy. The CIC aims to fulfil its duty as a SWF that seeks higher returns over a longer period and takes higher risks. On the international front, CIC actively implements the governance in transparency and standards.

H.E. ZHOU Yanli: Expanding China-EU Financial Cooperation for Mutual Benefit

In the context of the sluggish economic recovery, the world is challenged with the triple whammy of climate change, regional hotspot issues and the adversities against economic globalization. Chinese President Xi Jinping pointed out that to resolve the contradictions arising in the process of economic globalization, all countries should strive to achieve more inclusive global governance, more effective multilateral mechanisms, and more active regional cooperation. This China-EU Innovation Investment Conference is of significance to discuss the expansion of China-EU financial cooperation and promote the high-quality development of service trade.

H.E. Ms. Suzanne Streit：Financial Regulation-Encouraging to Innovate and Anticipate

Switzerland is aiming at combining its traditional strengths, such as high productivity, stability, security and trust, with an openness for new technological and international developments, such as fintech, artificial intelligence and sustainable finance. Previously, a working plan has been adopted to help enhance the bilateral financial market cooperation between Switzerland and China. Further cooperations in bank and wealth management as well as in insurance and reinsurance are also under discussion between China and Switzerland.

Sovereign Wealth Management and Innovation Investment: New Development and New Factors of CIFTIS 2022

International Speakers

Chinese Speakers

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Sovereign Wealth Management and Innovation Investment:
New Development and New Factors of CIFTIS 2022