SIP takes the lead in developing fintech   TheSuzhou leg of 55 Shopping Festival, a two-month shopping spree jointlyorganized by the governments of Suzhou and Shanghai, kicked off in SIP in May. Duringthe event, digital red envelops (hongbao in Chinese) containing digital cashgifts totaling about RMB10 million were distributed to consumers through a drawlot. “Wejoined hands with six banks and several other companies during the festival toexpand the application of digital yuan. For financial institutions and fintechdevelopers, there is a ‘blue sea’,” said an official from SIP FinancialDevelopment and Risk Prevention Bureau.It islear... [MORE]     Fintech feast facilitates partnerships   Atthe event, a number of banks, venture capital investment organizations and techcompanies signed agreements to jointly build the “Suzhou Financial Supply ChainEcosystem” to promote better matching of supply and demand in the financialsector relying on advanced technologies such as big data, blockchain and AI. Apartfrom that, Suzhou Fintech Innovation Center launched cooperation with a numberof financial institutions to set up joint laboratories to develop technologiesfor application in various scenarios.   [MORE]     Fintech-themed event opens in SIP   The 4th China Fintech Industry Summit cum 3rd Sino-Singapore(Suzhou) Fintech Expo took place at Suzhou International Expo Centre, SIP fromOct 28 to 30. It islearnt that the fintech summit and expo are held in SIP on a yearly basis toprovide opportunities for financial institutes, tech companies and researchinstitutes to share their expertise and seek cooperation in developing andusing fintech.This year’s event included one main forum, 14 sub-forums, anexhibition with an area of 12,000 square meters, project presentations, roundtablesand other activities. It was also paired with a fintech inno... [MORE]