February 29, 2024

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China Unveils Digital Philanthropy Innovation Space

Beijing hosted the Internet Philanthropy Symposium and the opening ceremony of the Digital Philanthropy Innovation Space, a ground-breaking initiative aimed at creating a digital public welfare ecosystem fostering strengthened cooperation and healthy development. This was a significant step towards fostering digital philanthropy and promoting Chinese-style modernisation.

Guided by the Cyberspace Administration of China, this endeavour seeks to explore the digital transformation of the public welfare sector and encourage widespread societal participation in the high-quality development of the cybersecurity and informatisation industry.

The China Internet Development Foundation forged strategic partnerships by signing cooperation agreements with key entities, a significant cooperation agreement was inked and focused on the operational aspects of the digital public welfare innovation space.

The symposium, orchestrated by the China Internet Development Foundation, saw the participation of 80 individuals, including representatives from relevant government departments, experts, scholars, Internet public welfare platforms, network information companies, and central media. This collective gathering underscored the collaborative spirit required to drive meaningful change in the digital philanthropy landscape.

According to the local government of Beijing, the Digital Philanthropy Innovation Space promises to be a catalyst for positive change in the public welfare sector, while the regulatory measures underscore the commitment to transparency and adherence to financial information service standards. Together, these initiatives signify a progressive step towards a more inclusive and technologically advanced era in philanthropy and financial information services.

Additionally, digital tools empower philanthropic organisations to enhance accessibility, leverage data-driven insights, and expand their global reach. Real-time impact tracking ensures transparency and accountability, while innovative fundraising methods diversify financial support.

The Digital Philanthropy Innovation Space’s remarkable adaptability to emerging trends stands as a testament to its dynamic nature, showcasing an unparalleled ability to navigate the swiftly evolving landscape of philanthropy.

This adaptability is complemented by the pivotal role the space plays in cultivating strategic partnerships and fostering collaborations that amplify the impact of philanthropic endeavours. Acting as a central hub for addressing the ever-evolving societal needs, it becomes a connection where innovative solutions are conceived and implemented to address complex challenges.

Beijing believes that the infusion of technological advancements doesn’t merely represent a modernisation of processes; rather, it signifies a profound shift in the way philanthropy is conceptualised and executed, with a heightened focus on creating enduring positive change in society.

In addition, the Cyberspace Administration of China took a significant step towards enhancing the quality of financial information services. In adherence to the “Financial Information Service Management Regulations” and the “Notice on Carrying out Domestic Financial Information Service Reporting Work,” the administration publicly released the names and registration numbers of the third batch of five financial information service institutions.

The importance of digitalisation in Financial Information Service Management Regulations lies in its ability to modernise and optimise financial processes. By leveraging technology, regulatory bodies and financial institutions can create a more secure, transparent, and adaptive financial ecosystem that meets the challenges of the digital age.

A noteworthy aspect of this disclosure is the emphasis on transparency. Financial information service institutions are now required to prominently display their registration numbers on services and products, linking users to the registration system website for verification.

However, it’s essential to recognise that this reporting is not a blanket endorsement of an institution’s service capabilities; rather, it confirms their compliance with regulations regarding the provision of financial information services.

The regulations stipulate those institutions must strictly adhere to the “Financial Information Service Management Regulations” and associated policies. Importantly, they are prohibited from engaging in various financial services, such as online lending, securities trading, securities investment consultation, and credit reporting, in violation of regulations under the guise of reporting.

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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.

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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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