February 21, 2024

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China Implements Tech-Centric Financial Strategies

In a recent gathering of the Beijing Economic Development Zone Working Committee’s Theoretical Learning Centre Group, the spotlight shone on the expansion of government equity investment funds, setting the stage for a strategic fusion of finance and technology.

At the forefront of this initiative is Associate Professor Hu Bo from Renmin University of China’s School of Finance, who delivered a distinctive guidance report centred on propelling scientific and technological innovation and fostering industrial development.

This assembly of minds emphasised a mission echoing the sentiments of the Central Economic Work Conference and the Central Financial Work Conference — a mission to fortify financial capabilities, intertwine financial reservoirs with technological ingenuity, and fortify the “four chains” comprising capital, innovation, talent, and industry.

All these efforts are channelled towards catalysing a distinct form of modernisation in Yizhuang, a style uniquely tailored to the Chinese context. The core of this meeting radiated a profound acknowledgement of the imperative to orchestrate a profound union between science, technology, and finance, a confluence envisioned to shape a modern industrial paradigm.

The overarching vision extends beyond mere development, aiming to attain a pinnacle of high-quality progress and self-reliance in scientific and technological prowess. At its core, this represents a paradigm shift toward a future where the intricate dance of science, technology, and finance orchestrates a symphony of economic evolution.

The committee explored the potential of government investment funds as catalysts for a reciprocal and virtuous cycle between science, technology, and finance — a dynamic interplay injecting vitality into the economic veins of the region.

The meeting’s resonance was not confined to theoretical aspirations; rather, it reverberated with actionable strategies. The spotlight fell on targeted fund investment strategies, envisioning a support system tailored for high-precision industries and the innovative growth trajectory of small and medium-sized enterprises (SMEs).

This strategic alignment mirrors the ethos of the digital economy, where technological prowess is recognised as essential for economic advancement. The committee, acquainted with the Economic Development Zone’s industrial layout and development plan, seeks to align these financial mechanisms with the pulse of the region, ensuring a harmonious integration of financial support with strategic industrial imperatives.

Beyond the broad strokes of vision, the committee delved into the intricacies of financial management, urging a reevaluation and enhancement of the guidance fund management structure. Supervision mechanisms and harmonisation with broader policies were underscored, emphasising the need for a nuanced and responsive financial framework.

This approach reflects a holistic understanding that success in the digital era demands more than visionary initiatives — it demands efficient financial architectures and seamless collaborations across diverse sectors.

The ultimate drive is to craft an optimal business ecosystem, one that not only nurtures innovation but also stimulates social investment vitality within the Economic Development Zone. The recent endeavours of the Beijing Economic Development Zone Working Committee herald a pivotal moment where finance and technology intertwine, driven by a vision that transcends theoretical discourse.

With a meticulous orchestration of government investment funds and a strategic focus on high-precision industries and SMEs, the Economic Development Zone stands at the forefront of a transformative era. This visionary approach, coupled with a commitment to refining financial structures, underscores the zone’s pivotal role in fostering economic evolution.

The integration of technological innovation and digital strategies forms the bedrock of this transformation, signalling a forward-thinking paradigm that aligns with the dynamic needs of the contemporary economic landscape.

PARTNER

Qlik’s vision is a data-literate world, where everyone can use data and analytics to improve decision-making and solve their most challenging problems. A private company, Qlik offers real-time data integration and analytics solutions, powered by Qlik Cloud, to close the gaps between data, insights and action. By transforming data into Active Intelligence, businesses can drive better decisions, improve revenue and profitability, and optimize customer relationships. Qlik serves more than 38,000 active customers in over 100 countries.

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CTC Global Singapore, a premier end-to-end IT solutions provider, is a fully owned subsidiary of ITOCHU Techno-Solutions Corporation (CTC) and ITOCHU Corporation.

Since 1972, CTC has established itself as one of the country’s top IT solutions providers. With 50 years of experience, headed by an experienced management team and staffed by over 200 qualified IT professionals, we support organizations with integrated IT solutions expertise in Autonomous IT, Cyber Security, Digital Transformation, Enterprise Cloud Infrastructure, Workplace Modernization and Professional Services.

Well-known for our strengths in system integration and consultation, CTC Global proves to be the preferred IT outsourcing destination for organizations all over Singapore today.

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Planview has one mission: to build the future of connected work. Our solutions enable organizations to connect the business from ideas to impact, empowering companies to accelerate the achievement of what matters most. Planview’s full spectrum of Portfolio Management and Work Management solutions creates an organizational focus on the strategic outcomes that matter and empowers teams to deliver their best work, no matter how they work. The comprehensive Planview platform and enterprise success model enables customers to deliver innovative, competitive products, services, and customer experiences. Headquartered in Austin, Texas, with locations around the world, Planview has more than 1,300 employees supporting 4,500 customers and 2.6 million users worldwide. For more information, visit www.planview.com.

SUPPORTING ORGANISATION

SIRIM is a premier industrial research and technology organisation in Malaysia, wholly-owned by the Minister​ of Finance Incorporated. With over forty years of experience and expertise, SIRIM is mandated as the machinery for research and technology development, and the national champion of quality. SIRIM has always played a major role in the development of the country’s private sector. By tapping into our expertise and knowledge base, we focus on developing new technologies and improvements in the manufacturing, technology and services sectors. We nurture Small Medium Enterprises (SME) growth with solutions for technology penetration and upgrading, making it an ideal technology partner for SMEs.

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HashiCorp provides infrastructure automation software for multi-cloud environments, enabling enterprises to unlock a common cloud operating model to provision, secure, connect, and run any application on any infrastructure. HashiCorp tools allow organizations to deliver applications faster by helping enterprises transition from manual processes and ITIL practices to self-service automation and DevOps practices. 

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IBM is a leading global hybrid cloud and AI, and business services provider. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity and service.

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