Recently, the Launch of the China Financial New Development Index Report 2023 (Report for short) and the Seminar on High-Quality Development of Financial Services was held in Beijing.

The Report indicates that Beijing, as the capital and national financial management center of China, continues to lead the country in terms of the financial new development index, with significant advantages in areas such as financial technology, green finance, and international financial cooperation. Especially, the city plays an important role in policy guidance and financial innovation.

The Report shows that Beijing has performed well in terms of total and incremental financial assets. Beijing has gathered a large number of high-quality financial resources and developed a sound regulatory system, providing a favorable environment for financial innovation and development. In addition, Beijing has made significant achievements in areas such as fintech applications, the development of green finance, the promotion of inclusive finance, the innovation of pension finance, and the construction of digital finance.

Regarding fintech applications, Beijing has seen the emergence of a number of fintech enterprises and innovative projects with international influence thanks to policy support, technological innovation, and market cultivation. These enterprises and projects not only drove the digital transformation and upgrading of the finance sector, but also provided strong support for the sustainable development of the economy and society. For example, Beijing is leading the entire China in terms of fintech applications, such as mobile payments, blockchain and AI.

Regarding the development of green finance, Beijing, as an important experimental area for national reform of green finance, actively promoted the innovation of green finance products and services such as green bonds and green credit loans. With the rapid development of its green finance sector, Beijing has provided strong financial support for the green development of the economy and society. At the same time, Beijing actively participated in global cooperation and exchanges on green finance, and enhanced its influence and voice in the international green finance sector.

(Source: Beijing Daily)