Cross-border finance supported by emerging technologies has developed faster than we imagined. As an important part of the global financial market, cross-border finance is not only related to economic and trade cooperation between countries, but also an important driver of economic globalization. As small as a personal cross-border shopping transaction, as large as a commercial cross-border merger and acquisition, or even trade between countries, they are all objects of cross-border financial services. Cross-border payment (settlement), cross-border trade, and cross-border financing under emerging finance have made a qualitative leap from quantity to quality, and cross-border finance has gradually moved into deep water areas. Challenges and opportunities come hand in hand. Is Lin-gang Special Area, the main force in the development of emerging finance in the whole country, ready? The answer is obvious - one of the cross-border finance parallel sessions of the 2023 Dishui Lake Emerging Finance Conference “Innovatively Developing Cross-border Finance and Promoting High-level Opening” will be held at the Lin-gang Center on the afternoon of December 8.

Currently, major changes in the world that have not been seen in a century are accelerating, and the Chinese economy still needs to find a way to develop amidst challenges and opportunities. How to focus on the goal of “accelerating the construction of a strong financial country” to promote high-quality financial development in my country and provide strong support for comprehensively promoting the construction of a strong country and national rejuvenation with Chinese-style modernization is the fundamental issue of this forum. Based on the layout of the emerging financial industry in Lin-gang, rationally exploring the operating rules of emerging finance, and contributing the wisdom and experience of “Financial Peking University people” are the key points of this forum. With the theme of “Technological Innovation, Smart Finance and Collaborative Development”, the forum paid attention to the “five major articles” proposed by the Central Financial Work Conference from different angles and hoped to be the first to promote the benign ecology of “technology + industry + finance” in the Lin-gang Special Area and play a leading role in the special area on a larger scale.

Emerging finance has rich connotations, and digital finance is undoubtedly a key part of it. The world's digital transformation and financial technology changes are driving the development of global finance. China’s recent Central Financial Work Conference proposed for the first time the goal of building a financial power. Digital finance is sweeping in with an unprecedented wave and has become an important growth pole for the current and future world economic development, The “Digital Finance Creates Global Core Competitiveness’ sub-forum will focus on hot topics such as the national digital transformation development strategy, the application of data science and machine learning in investment decision-making, the development trend of the new era of artificial intelligence with large models as the core, technology assisting the development of the real economy, and the demand for business and technology integrated talents in the asset management ficld under the background of digital finance, and the application scenarios of artificial intelligence and big data in the financial industry, which will be discussed and shared from multiple angles and dimensions.

After the advent of ChatGPT, a whirlwind of large generative AI models blew up around the world. This whirlwind swept into banking, insurance, securities firms and other fields, and is promoting the transformation and development of the financial industry. How is the current application of generative AI large models in the global and Chinese financial industries? What opportunities does it bring? What challenges have you encountered? How should we use generative AI large models to promote the transformation and development of my country’s financial industry? These are the issues that this meeting focuses on.

Introduction to the topic: In November 2020, General Secretary Xi Jinping proposed at the celebration meeting for the 30th anniversary of Pudong’s development and opening up to “support the development of RMB offshore transactions in Pudong” and “coordinate the development of onshore and offshore businesses”. For the first time, he made it clear that he would develop RMB offshore transactions in Shanghai. The Lin-gang Special Area is a major strategic deployment for my country to further expand opening up, and is an important functional area for piloting innovation in financial reform, opening up, and innovation.The "Overall Plan for the Lin-gang Special Area of the China (Shanghai) Pilot Free Trade Zone" clearly states that the cross-border financial management system will be implemented to facilitate the collection and payment of funds, the facilitation of cross-border financial services will be promoted, and the pilot program for the integration of domestic and foreign currencies in free trade accounts will be studied and implemented, and the free inflow, outflow and free exchange of capital in the special area will be explored. The Lin-gang Special Area has the conditions to carry out pilot trials and explore the development of an offshore financial system. In this seminar, the financial regulatory authorities, the Management Committee of Lin-gang Special Area, financial institutions, experts and scholars were invited to participate in dialogue and exchanges around the theme of "offshore finance" to further clarify the business scope, current status, difficulties, bottlenecks, and implementation paths of offshore finance. This will provide useful insights for the future direction of Shanghai’s offshore financial development and contribute practical strategies.