ASEAN Business Advisory Council and its delegation visited this Shanghai digital technology enterprise | institution | technology
On July 26th, the ASEAN Business Advisory Council and its delegation visited Shanghai and visited the headquarters of Shanghai Xinye Technology on the same day.
According to information from the Chinese Ministry of Commerce, the ASEAN Business Advisory Council was announced by ASEAN leaders at the 7th ASEAN Summit in November 2001 and officially launched in April 2003. Its secretariat is located in Jakarta, Indonesia. ASEAN BAC is the main bridge for political and business communication in ASEAN, playing a leading and coordinating role in exchanges between the business community and various departments and institutions in ASEAN. It represents the ASEAN business community in dialogue and exchanges with ASEAN officials and partner countries, promoting ASEAN economic cooperation and integration. The members of the Council are appointed by the competent departments of the governments of ASEAN member countries and are composed of the heads of representative enterprises from each member country.
Li Tiezheng, CEO of Xinye Technology Group, and Gu Ming, CEO of Xinye Technology's Indonesia business, welcomed the visiting delegation and introduced Xinye Technology's development history, technology application, brand building, and future development. They also made prospects for Xinye Technology's development in Indonesia and even ASEAN.
China and ASEAN are each other's largest trading partners, with a solid foundation of cooperation and enormous development potential. Over the years, the areas of cooperation between the two sides have been continuously expanding and trade exchanges have been smooth, and bilateral trade is expected to continue to maintain a good momentum. The relevant person in charge of the ASEAN Business Advisory Council stated, "In addition to traditional economic and trade exchanges, we also realize that digital technology enterprises represented by Xinya Technology are developing well in ASEAN. Chinese enterprises are leveraging their leading advantages in the digital economy to drive local enterprises' digital transformation and provide better and faster services to local institutions and consumers."
Li Tiezheng said that Xinya Science and Technology adheres to the strategy of "based on the local and global", actively integrates into the "the Belt and Road" construction, and adheres to the path of high-quality development. ASEAN countries are the first stop for Xinya Technology to explore international markets. Since 2018, Xinya Technology has been expanding its business layout in Indonesia for five years. "We believe that Indonesia is an active and vibrant emerging market, and we look forward to greater investment and more local business layout space in Indonesia."
Gu Ming gave a presentation on the current situation and prospects of Xinye Technology's business in Indonesia on the same day. He said that Indonesia is currently the most populous country in Southeast Asia and the fourth most populous country in the world, with a population of over 270 million, of which 180 million are young consumers. The Indonesian market has a huge demand for comprehensive digital financial services.
Gu Ming said that AdaKami, a subsidiary of Xinye Technology's Indonesian business, has now become one of the most trusted and beloved fintech brands in the local area, thanks to Indonesia's open policy towards fintech enterprises and its growing economic vitality. The demographic dividend and dynamic population structure have made Indonesia's economic growth rate quite impressive. We are very optimistic about the future development of the Indonesian market and hope to bring more convenient fintech services to local institutions and users under the supervision and support of the Indonesian government.
It is reported that Xinye Technology's business in Indonesia was registered at the end of 2018 and obtained local financial licenses since the end of 2019. It has been conducting business activities under the supervision of the Indonesian Financial Services Authority. Xinye's Indonesian business company has formed an international team, with a localization rate of over 80%. It is evident that the localization rate will further increase in the future.
AdaKami, the Indonesian business platform of Xinye Technology, is a fintech platform dedicated to serving the digital transformation of local financial institutions and providing credit facilitation services to consumers. AdaKami leverages the advantages of technology platforms, integrates local core resources, and conducts multi-dimensional and deep level cooperation with multiple well-known banks, e-commerce, and payment platforms. Utilizing its financial technology innovation capabilities, AdaKami aims to create a technology driven and locally distinctive financial technology ecosystem. Currently, AdaKami has over 21 million registered users, making it the second most convenient tool for financial applications in the local application market in Indonesia.