One of the nine themed sections of the 2023 China International Fair for Trade in Services, a financial services exhibition is taking place from Saturday to Wednesday at Shougang Park in Beijing.

The international, comprehensive showcase is set to enhance global financial exchanges and cooperation, organizers said.

Spanning more than 14,000 square meters, the financial services exhibition features eight zones: national finance; capital finance; open finance; green finance; digital finance; inclusive finance; regional finance and wealth management. The exhibition has scheduled a range of activities including forums, signing ceremonies and the release of achievements.

More than 200 domestic and foreign financial institutions and companies are participating in the exhibition, including 68 Fortune Global 500 companies and industry leaders. Of these, 99 have set up booths, with 47 of them foreign-funded organizations.

These organizations hail from more than 20 countries and regions across the Americas, Europe, Asia, Africa and the Middle East.

Li Wenhong, director of the Beijing Bureau of Local Financial Regulation and Supervision, highlighted China's efforts to open up its financial market and assist high-level financial exchanges. More foreign financial institutions with proven operations, high qualifications and unique expertise have entered the Chinese market, Beijing Daily reported.

Financial institutions including Standard Chartered, Mastercard and the London Stock Exchange are showcasing their latest products and solutions to explore potential cooperation opportunities with China.

Zhang Xiaolei, president of Standard Chartered's China operations, said that the country's determination and action to promote institutional opening-up not only help companies improve their competitiveness but provide more opportunities and a wider scope for global expansion, China News Service reported.

This year, the financial services exhibition is focusing on China's modern financial service system, showcasing an array of service scenarios and nearly 100 achievements. It underscores the deep integration of innovative technologies and the financial sector from different perspectives.

In the field of digital finance, the exhibition spotlights pioneering products from financial institutions and technology companies, encompassing frontier realms such as big data, blockchain and artificial intelligence.

This year, the financial services exhibition features a dedicated area exhibiting digital renminbi products. Among them are digital RMB wallets in the forms of integrated circuit cards, wristbands, student cards and senior citizen cards, among others.

The exhibit demonstrates the application of digital RMB in various scenarios, such as transportation, dining, government services, rural vitalization, green finance and tourism.

This year, the Digital RMB Avenue at CIFTIS has undergone upgrades to include scenarios encompassing art markets, online shopping, livestreaming, time-honored brands, culture and tourism. The purpose of this is to allow visitors to have an immersive experience of digital RMB in daily life.

Financial institutions are developing green finance products and services to support China's efforts to achieve the goals of peaking carbon emissions before 2030 and achieving carbon neutrality before 2060.

At this year's financial services exhibition, financial institutions and third-party service providers are showcasing what they have achieved in supporting the development of a low-carbon circular economy. They are also demonstrating the achievements that China has made in green finance reform, green finance innovation and sustainable economic development.

Financial services are crucial for assisting cross-border trade. A display by the China Development Bank showcases accomplishments in foreign trade, cross-border investment and cooperation under the Belt and Road Initiative.

The Export-Import Bank of China is sharing its experience of supporting foreign trade, cross-border investment, international cooperation and fostering an open economy through case studies and the presentation of achievements in international cooperation.

The Bank of Communications exhibition focuses on the expansion and improvement of policies for assisting trade and foreign exchange, providing streamlined cross-border financing for technology enterprises and facilitating cross-border RMB settlements for highquality and trustworthy companies.