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 Mobile Webinar III on Innovation and Financial Technology held in AFDI Global Learning Community 

        Mobile webinar III on Innovation and Financial Technology organized by the Asia-Pacific Finance and Development Institute (AFDI) was held in the AFDI Global Learning Community via WeChat App from 9:00-10:30(Beijing Time) on September 26. This is the third webinar of 2017 AFDI-GDLN Global Learning Program-“Financial Globalization: Openness, Connectivity and Innovation”. Dr. JI Rui, senior economist and director of applied economic research center of AFDI, delivered opening remarks on behalf of the organizer of this webinar. KDI School, Chulalongkorn University-Global Development Learning Network (CU-GDLN) , GDLN American Foundation send the introduction video clips in the AFDI Global Learning Community during webinar. The webinar attracted about 297 participants from 24 different countries around the world.

 

Professor LI Lingfang introduces the three aspects of “New Trend of Financial Model and Financial Technology.” Firstly, she analyzes how the Internet affects business models, and points out that the four internet infrastructures (big data, cloud computing, platform competition, mobile internet) drives the nine building blocks of business model, and thus two new trends in business model arises: convergence of production and service, and convergence of online and offline. Secondly, she introduced the concept of Internet finance and service types, as well as the key players. Thirdly, she point out the relationship between the Internet finance and financial technology, as well as how the Internet technology affects traditional finance.

Professor Li Zhiqiang analyses the model of inclusive finance in China in three aspects. First, compared with traditional finance, the characters of inclusive finance aren’t mainstream. As the Pyramid model shows, inclusive finance requires a new business model. Because it provides services that traditional finance cannot provide at reasonable prices. The second part of presentation introduces current situation of China's inclusive finance. Taking the "Ant Finance" as an example, China's inclusive finance is demonstrated in three aspects: the third party payment, investment and financing. The last part of presentation briefly discusses the basic infrastructure of Inclusive Finance. Without it, the inclusive finance can’t be developed in China. Disintermediation reduces finance cost. Big data solves the problem of asymmetric information at affordable cost. Combined with the de-centerOpeningTransparenceSharing of the Internet spirit, inclusive finance model of China is sustainable, which is the direction for the next step of inclusive finance.

Who is AFDI?

The Asia-Pacific Finance and Development Institute (AFDI) is a public institution directly under the supervision of the Ministry of Finance, China. With the support of the Chinese government, Asian Development Bank, World Bank Group and other partners, AFDI aims to promote capacity building in finance and development areas in Asia-Pacific region.

 

What are we doing?

AFDI targets to launch a Mobile Learning Program via WeChat app on “Financial Globalization: Openness, Connectivity and Innovation” in collaboration with Global Development Learning Network (GDLN).

Financial globalization is the increasing interdependence of national financial systems across the world, a result of rapid increases in cross-border capital flow, market integration, and policy coordination. Instead of rejecting financial globalization because of internal inaccessibility or the contagiousness of external crises, economies need to consolidate their involvements in financial globalization by way of openness, connectivity and innovation.

 

Activities on WeChat

No.

Time

Topic

Webinar 1

May 18, 2017,

10:00am-11:30am (Beijing Time)

Openness and Capital Flow

Session1  Financial Openness in China

Webinar 2

July 5 ,2017,

9:00am-10:30am (Beijing Time)

Connectivity and Market Integration

Session1 Connectivity and Market Integration

Session 2 Connectivity and Integration of Capital Mobility in China

Webinar 3

Sep. 26, 2017,

9:00am-10:30am (Beijing Time)

Innovation and Financial Technology

Session 1 New Trend of Financial Model and Financial Technology

Session 2 New Model of Inclusive Finance in China

 

Program Highlights

 

 

In order to explore an innovative way of knowledge sharing, 2017 AFDI-GDLN Global Learning Program- “Financial Globalization: Openness, Connectivity and Innovationcombining Mobile Learning Community with GDLN Webinars and Sustainable Knowledge Sharing, to seek hotspots in the field of finance and development in China, regional and global, and to build a knowledge sharing ecosystem without boundaries and full of possibilities and potential.



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