The 2015 China International Fair for Investment & Trade took place from Sept 8 to 11 with the aim of promoting the real economy through innovative financial tools.
The Dongnan Commodity Trading Center and Internet finance service and information center, both headquartered in Quanzhou, Fujian province, presented their financial innovation products with support of the organizers of the trade fair at a press conference in Xiamen, Fujian province, on Sept 9.
Wang Qiongwen, head of the Xiamen Municipal Bureau of Convention & Exhibition Affairs said that financial innovation is vital to facilitating growth in the real economy and overall economic growth nationwide.
Liu Yufeng, secretary-general of the China Electronics Chamber of Commerce, said that commodity exchange is vital to China’s economic growth and that innovations in electronic spot transaction systems are the cornerstone of development.
Electronic businesses have been backed with national policies, following China's Premier Li Keqiang's proposal of the Internet Plus strategy in March. According to Liu, innovation in electronic spot transactions has become a major accelerator in the growth of China’s real economy sector.
Liu said that electronic spot transaction business has grown fast, thanks encouragement from the Chinese government for the general public to start innovation-oriented businesses. Liu added that the Dongnan Commodity Trading Center set a new trend for commodity spot transactions.
Increasing the liquidity of assets and capital can be realized through the construction of commodity exchanges, the improvement of logistics efficiency and the establishment of equity exchanges and creditor's rights exchanges, according to Chen Jinlong, associate dean of school of business administration at Huaqiao University in Quanzhou.
Local governments and companies from Beijing, Sichuan, Chongqing, Shaanxi, Shanxi, Henan, Jiangxi and Fujian signed several cooperative agreements with the Dongnan Commodity Trading Center and Internet finance service and information center to promote local enterprises to go public and undergo industrial upgrades.
