On April 3, Swift and Beijing jointly announced that Beijing will host Sibos 2024 from October 21 to 24, 2024, at the China National Convention Center. It is the first time the conference will be held on the Chinese mainland and the second time it is being held in China, fifteen years after convening in Hong Kong in 2009.

Sibos, or the Swift International Banker's Operation Seminar, is a leading global conference of the financial industry organized by Swift. Each year, 7,000 to 9,000 financial executives and experts from more than 150 countries and regions attend the conference, including representatives of commercial banks, securities companies, and other financial institutions and cooperative agencies. It is an important platform for exchanges, cooperation, business development, and image display of financial institutions worldwide. The seminar is praised as the "Olympics" of finance.

Beijing hosting Sibos 2024 is a milestone for the opening up of China's financial sector and is of great importance to both the development of Beijing's "four centers" and the city's function as the national financial regulation center. Moreover, it is an important opportunity to demonstrate Beijing's image as the capital of a major country and China's determination to further open up its financial sector. The event will promote communication and exchanges between financial institutions in China and other countries, leading and advancing the digital transformation of finance and making China's contribution to the development of the global financial industry.

Beijing is China's national financial regulation center and the home to national financial regulation departments and large financial institutions' headquarters, important financial infrastructures, and international financial organizations. At present, Beijing's total financial assets exceed CNY 190 trillion, accounting for about half of China's total financial assets. The added value of its financial industry accounts for nearly one-fifth of the regional GDP and has become the city's top pillar industry. In recent years, Beijing has promoted the opening-up of the financial industry to a higher level by advancing the development of the "Two Zones" with high standards and supporting steady institutional opening-up.

Swift, one of the world's most important financial infrastructures, has been deeply rooted in China for many years and has long kept a friendly cooperative relationship with Beijing Municipality. The establishment of Swift's first representative office in Beijing can be dated back to 1985. In 2019, Swift set up a wholly-owned enterprise in Beijing. In 2021, Swift established a joint venture, Cross-border Financial Information Services, with four Chinese-funded institutions. Swift and Beijing are now cooperating again to present the global financial industry with a memorable grand event. As the host city, Beijing will fully fulfill its responsibilities and obligations to ensure the successful convening of Sibos 2024 with full enthusiasm, a professional attitude, and considerate service.

(Source: Beijing Municipal Bureau of Local Financial Regulation and Supervision)