Academician Chen Xiaohong Invited to Attend and Deliver A Speech at Asian Capital Markets Development Summit of 2nd BFA GEDSF
2023-11-17
On October 29, the 2nd conference of the Global Economic Development and Security Forum of the Boao Forum for Asia (BFA) opened in Changsha, Hunan. Professor Chen Xiaohong, Secretary of CPC HUTB Committee, Director of Xiangjiang Laboratory, and an academician of the Chinese Academy of Engineering, was invited to attend and delivered a keynote speech at the Asian Capital Markets Development Summit. She stated that digital and intelligent technology, including artificial intelligence, advanced computing, digital twins, blockchain, and the metaverse, as well as other new generation information technologies, are continuously driving the development of the real economy, promoting the high-quality development of the digital economy, providing innovative momentum for the development of financial technology, and shaping the future form of society and the economy.
Academician Chen Xiaohong proposed in her report that the development of digital and intelligent technology mainly includes five aspects: artificial intelligence technology as the core engine of digital and intelligent technology, advanced computing technology constructing a new future for digital intelligence technology, digital twin technology building a new foundation for the digital realm, blockchain technology driving the circulation of data elements, and Web3.0 and the metaverse enhancing the productivity of digital space and the physical world. Under the new context, new environment, and new trends, how financial technology empowers and gains a leading advantage through digital intelligence technology, and how to promote disruptive innovation and practical exploration in the financial field, will be an important manifestation of the country's core competitiveness and future development vitality in the next stage. From a global perspective, financial technology has become a new track for competition among financial institutions in various countries. Thanks to the enormous domestic market size and the rise of many outstanding financial technology companies in recent years, China has gradually become one of the global leaders in the field of financial technology.
Academician Chen Xiaohong believes that from a global perspective, the development of financial technology presents ten new trends: 1. Gradual formation of global consensus on the important role and development principles of financial technology; 2. Clearer orientation towards serving the real economy and promoting inclusive finance; 3. Continuous improvement of regulatory frameworks that are adaptive, effective, and innovative; 4. Increasingly important role of self-discipline in the financial technology industry; 5. Heightened status of risk prevention and control as a lifeline for the financial technology industry; 6. More evident trend of traditional financial institutions actively embracing the integration of financial technology; 7. Continuous standardization and improvement of operational models and business rules for emerging formats; 8. Closer integration of digital technology with financial application scenarios; 9. More urgent need to seize the discourse power of international standards in financial technology; 10. Increasing internationalization of the development of financial technology.
The Global Economic Development and Security Forum of the Boao Forum for Asia is a special conference focusing on economic development and security issues within the framework of the Boao Forum for Asia, and serves as an important platform for strengthening global exchange and cooperation. With the theme "Global Development, Shared Security", this conference has attracted more than 2,500 guests from over 30 countries around the world. Academician Chen Xiaohong's keynote speech received enthusiastic responses and unanimous praise from experts, scholars, and business representatives in attendance.
