Plug and Play China Announced to Build the Fintech Ecosystem with Fintech Giants in Shanghai

Plug and Play China Announced to Built the Fintech Ecosystem Together with Lujiazui Financial City, CR Land and Shanghai Land Group on Fintech Expo Day

On June 20, Plug and Play China Fintech Batch 1 Expo Day was held in Shanghai. Thus, Plug and Play China Summer Summit 2019 was officially launched.

 Expo Day is an important stop for the Plug and Play. After dozens of dealflows, acceleration and adaption, corporates and startups in the  introduced achievement and experience of their cooperation to the public on the Expo Day. Guests from more than 10 well-known domestic and overseas financial institutions, representatives from more than 20 fintech startups, and nearly 300 guests from investment institutions and relevant government departments participated the event, bringing the six-month program to a successful conclusion.

 The site of Plug and Play China Fintech Batch 1 Expo Day

 Build an ecological platform for fintech innovation with all parties

On the same day, Plug and Play China signed an agreement with Lujiazui Financial City, CR Land and Shanghai Land Group to jointly launch the Lujiazui Fintech Industrial Park Project.

Lujiazui Fintech Industrial Park Signing Ceremony

Zhang Yuxiang, Director of Lujiazui Administration Bureau and Lujiazui Financial City Development Bureau of China (Shanghai) Pilot Free Trade Zone Administration, Guo Zhiying, Deputy Director of Lujiazui Administration Bureau and Lujiazui Financial City Development Bureau of China (Shanghai) Pilot Free Trade Zone Administration, Yuan Yefeng, Division Head of Financial Shipping Service of Lujiazui Administration Bureau, and Director of Financial Shipping Service Department of Lujiazui Financial City Development Bureau, China (Shanghai) Pilot Free Trade Zone Administration, Chen Gang, Vice President of CR Land and General Manager of CR Land Eastern China, Li Zhong, Vice President of Shanghai Land Group, Cai Shunming, Vice President of CR Land, and other guests attended the event.

The three parties jointly build Lujiazui Fintech Industrial Park

Peter Xu, Executive Director and CEO of Plug and Play China, said in his speech that Plug and Play aims to building an innovation ecosystem version 2.0 and makes it an organic carrier of interconnected innovation. With introduced resources such as talent, technology and capital, Plug and Play may ensure the sustainable development of the ecosystem and the acceleration and implementation of innovation. In the ecology built by Plug and Play, innovative technology has the chance to connect with corporate resources and venture capital resources. What’s more, it can connect with industrial resources in different cities on the urban innovation platform of Plug and Play, so as to verify the commercial value of products in the market.

Peter Xu, Executive Director and CEO of Plug and Play China

The joint building of Lujiazui Fintech Industrial Park is a successful practice of government-corporate cooperation and open innovation, and an important progress of Plug and Play in building financial innovation ecology in China. As a well-known innovation platform with 20 years’ experience in accelerating technological innovation, Plug and Play will give full play to its ecological role, closely integrate the application scenarios of fintech, provide Lujiazui Fintech Industrial Park with multi-dimensional innovation resources, and build a dynamic ecological cycle of innovation.

Song Youyou, Deputy General Manager of CR Land Eastern China, Executive General Manager of Shanghai Corporation, Executive Deputy General Manager of Shanghai Fuying Binjiang Development and Construction Investment Co., Ltd, and Ren Kaifeng, Deputy Director of Lujiazui Administration Bureau and Lujiazui Financial City Development Bureau of China (Shanghai) Pilot Free Trade Zone Administration, delivered speeches.

Song Youyou, Deputy General Manager of CR Land Eastern China, Executive General Manager of Shanghai Corporation, Executive Deputy General Manager of Shanghai Fuying Binjiang Development and Construction Investment Co., Ltd

Guo Zhiying, Deputy Director of Lujiazui Administration Bureau and Lujiazui Financial City Development Bureau of China (Shanghai) Pilot Free Trade Zone Administration

Relying on the policy support of Lujiazui Financial City, by virtue of the strong industrial strength of CR Land and Shanghai Land Group, and in combination with the fintech innovation network of Plug and Play China, all parties will strive to provide all-round support from hardware, service to ecology for the upgrading of financial industry chain, and build Lujiazui Fintech Industrial Park into a fintech innovation platform based on the Yangtze River Delta and linked to global.

Focus on the financial industry and promote the implementation of innovation achievements

The fintech innovation platform of Plug and Play was established in 2014. After five years of development, it has grown into the world’s leading fintech acceleration platform. It has accelerated more than 200 fintech startups and invested in more than 50 companies, and opened offices in New York, Paris, Abu Dhabi, Frankfurt, Tokyo, Singapore, Shanghai and Beijing.

According to Chen Siyin, Vice President and Head of Fintech of Plug and Play China, the Batch 1 was launched at the end of 2018, focusing on five technical fields: risk control, user experience, trading and investment, regulation technology and network security, and blockchain. With the cooperation of more than 10 corporate partners, 14 excellent startups stood out from more than 200 startups and joined the six-month . In the Batch 1, corporates and startups had more than 30 in-depth online and offline communication by means of precise matchmaking meetings and innovation days. Finally, through unremitting efforts of all parties, nearly 70% of the startups in the camp gain the opportunity to work with corporates on pilot projects.

Chen Siyin, Vice President and Head of Fintech of Plug and Play China

The innovation achievements cannot be implemented without the joint support and efforts of all parties. On the Expo Day, Plug and Play China also issues certificates of honor to the startups in the Batch 1, thanking them for their support and contribution to technological innovation.

Robooot, Shannon.AI and Silicon Intelligence won the “BEST POC PRACTICE”. They demonstrated excellent judgment and execution in the Batch 1, and successfully implemented innovation achievements in cooperation with corporates in just six months. KnowLeGene, FinTell, Createlink Technology, Juzix and Sentiance won the “Most Welcomed by Corporate”. Corporates were impressed by their advanced technologies and high-quality products. SeetaTech, Ziasset Financial Service, Xmebank, Oushu, Mobivans and Era Future won the “Most Innovative Potential”. Their forward-looking and unique technologies and products had inspired financial institutions on the business innovation.

Look forward to innovation edge and pay attention to industry trends

Fintech has become an industry where financial institutions are actively engaged in. In a rapidly changing market environment, with increasingly stringent supervision measures and emerging technologies, how can financial institutions effectively use new technologies to enable business? How can startups understand the market and find the right field to work with corporates? In view of the practical problems that corporates are urgently concerned about in operation and development, on the Expo Day, the fintech team of Plug and Play China invited representatives of corporates and startups to share the trends of innovation edge from their own perspectives, build communication channels and promote mutual understanding.

Based on in-depth observation and research on the global banking industry, Qu Xiangjun, Global Senior Managing Partner of McKinsey, delivered a speech on “Innovative Development of Corporates”. He cited the actual cases of world-renowned financial institutions, analyzed the current pattern of the banking industry, and expounded several modes of digital transformation of traditional financial institutions, giving insight innovative business development for corporates.

Qu Xiangjun, Global Senior Managing Partner of McKinsey

Jiang Jun, Vice President of CCB Fintech, shared CCB’s experience in technological innovation. CCB Fintech is the first fintech corporate set up among large state-owned commercial banks. On the one hand, it enables the group’s business with innovative products. On the other hand, it hopes to export technologies to its peers. Thanks to sharing of CCB Fintech, corporates could learn from its experience, and startups identified the problems that need to be paid attention to when cooperating with corporates.

Jiang Jun, Vice President of CCB Fintech

In addition, Plug and Play China also invited representatives of seven startups, including Sailuo Technology, 99Cloud, Dingxiang Technologies, Value Simplex, Genus, MioTech and Xianghang Technology, to share the cutting-edge technologies and solutions in fintech.

After the Expo Day, the fintech team of Plug and Play China will begin to prepare the Batch 2. Plug and Play China will continue to leverage its advantages as the global innovation platform, continuously explore the Chinese market, excavate potential technical projects, enable corporates with science and technology, work with all parties to build a leading fintech innovation platform, and promote the digital transformation of the financial industry.