Ascential, a global business-to-business information company, has signed a long-term partnership agreements with the city of Hangzhou and the district of Xiaoshan to run a new edition of its Money20/20 event series.
The agreement was inked today in China by Ascential CEO Duncan Painter alongside Xie Shuang Cheng, vice mayor of Hangzhou and Gu Chun Xiao, deputy warden of Xiaoshan.
China will join the US, European and pan-Asian editions. Tracey Davies, president of Money20/20, cited China’s unique market and domestic appetite to both invent and embrace new fintech products as the reason to launch this new edition of the leading payments and fintech event. “The rise of fintech in China is something that no one in this industry can ignore,” she added.
Money20/20 brings together visionaries and innovators from across the entire spectrum of payments, fintech and financial services to connect and create the future of money.
The host city of Hangzhou, in China’s Zhejiang Province, has been chosen based on its long-term commitment to the future of finance. President Xi commented on its advanced commercial development at the Business 20 (B20) summit in Hangzhou last year, saying “just click the mouse in Hangzhou, and you connect the whole world”.
Hangzhou is also home to financial innovators such as Alibaba and LianLian Group to name a few. Cashless, environmentally designed and home to a new wave of China’s internet entrepreneurs, Hangzhou is believed to provide the perfect, long-term home for Money20/20 China.
Commenting on the launch in China, Davies said, “Thanks to the formidable speed, skill and scale of China’s inventiveness in fintech, China is often the country innovators look to for inspiration. It represents the largest fintech investment market in the world and at Money20/20 China, companies from China and international markets will have an unprecedented opportunity to learn about what makes China’s fintech industry so forward-looking and progressive.”
The launch of Money20/20 in China is being widely supported by partners including Ant Financial, Baidu Finance, IDG Capital Partners, LianLian Pay, Phoenix Finance, Tencent WeChat Pay, Union Mobile Financial, as well as other key players from the industry.
Support also comes from associations that include the Payments and Clearing Association of China, Zhejiang Association of Internet Finance and the Zhejiang Association of Banks.