At a top domestic banking industry event, what kind of different perspectives will U & I bring to financial leaders?
The global economic and financial situation is complex and changeable. The trade between China and the United States is gloomy. China’s economic development has entered a new normal age. Both the banking industry and the real economy are facing innovation and transformation. Many people are confused by the question: how to innovate in changes, how to develop in innovations, and how to be compliant in development?
On December 13, 2019, Beijing, Chang’an Street was sprinkled with sunshine in the afternoon. The annual banking industry event, the 4th China Exchange Bank Annual Conference, was held ceremoniously. Many bankers and professional institutions gathered together to think and discuss how to build an industry ecological financial cooperation, share a platform to achieve a win-win situation, and promote development in finance and prosperity in real economy.
“Change, compliance, innovation”is the theme of this conference. More than 30 important honored guests attended the event. Many biggies gathered, among more than 200 guests. The golden U&I icon shines on the background board, bringing a different color to this banking event.
The event was hosted jointly by Trade Finance Magazine, Sino Trade Finance.com, tfsino.com, and China Transaction Banking 50 Forum. It brought together the elites of the national transaction banking industry. U&I Group participated in the Event as the only cross-border professional service organization. It shows its strong professional background and close cooperation and complementary relationship with the financial industry.
Transaction banking, as a development strategy for the return of corporate banking services to its essential origins in the new era, is leading a new direction for future changes in China’s banking financial thoughts and business models. It is the only way for commercial banks to transform into an asset-light business model. How to realize digital transformation, risk control and compliance are of key factors currently.
At the conference, Mr. Zhang Zhiqiang, General Director of China Transaction Banking 50 Forum, Mr. Wei Jianguo, former Deputy Minister of Commerce, and Ms. Zhang Yanling, former Vice President of Bank of China, shared their professional sights on China’s economic development and the transformation of the financial industry respectively.
U&I founding partner and CEO Mr. Steven Gong attended the meeting as a special guest. U&I founding partner and CMO Mr. Brian Bian gave a speech on “Reflection on Cross-Border Compliance Caused by the “Climate Changes“ of Offshore Jurisdictions, with unique perspectives and novel views.
This highly professional speech demonstrated the rich experiences of U&I in cross-border services from different dimensions. From the views of anti-money laundering, anti-terrorist financing and anti-tax avoidance that the banking industry paid attention to, he reminded banks of the importance of CRS and economic substance bills, and that we shall not only focus on capital compliance, but also on the existence and compliance of the entities.
In his speech, Brian pointed out that banks should not only focus on the source of funds, but also pay attention to the compliance of offshore fund holders or holding entities. Under the current bank control mechanism, this is key point that are easily overlooked. Many new economy industries are now considering how to graft on blockchain technology for related applications. Technical changes may be more likely to trigger compliance thinking than policy changes. Therefore, participants were reminded to pay attention to the underlying technology to consider compliance problem.
On the basis of the in-depth thinking of the guests, Brian’s speech also demonstrated the vision and professionalism of U&I as a cross-border consulting and landing services professional institution, which led the enthusiasm of the professionals from the banks to cooperate with U&I.
The 4th Annual Meeting of the Bank of Transaction was successfully closed in a different winter of 2019. The collision and exchanges between banks and professional institutions have made everyone get so much, and also made the guests aware that in the current economic situation, all companies and banks and other professional institutions shall no longer just in a hurry in developing, but would have long-term thoughts…
It would be more open in the year 2020, and U&I will continue to step together with professional institutions such as the financial entities to assist Chinese companies to go globally and move forward.