Discovering the "iPhone Moment" in Shanghai at the Bund Conference

Release time:Apr 16, 2024 20:32 PM

In 1851, the first road in Shanghai led to the Bund. In 1901, the first car appeared on the Bund. In 1908, the first tram set sail towards the Bund... "The history of the Bund is the history of technological exploration." On the eve of the opening of the 2023 Bund Conference, the lead film "Exploration" posed a question: How can we go from the Bund?

In just three days, the Bund Conference, which closed on the 9th, gave an answer: starting from inclusive finance, the boundaries of technological progress have always been expanding, and the connection between finance and science and technology innovation has become increasingly close. With the help of financial technology, Shanghai's future industrial layout in areas such as general AI, brain computer interfaces, and 6G networks has begun to take shape.

Twin Prosperity of Finance and Technology

In Shanghai, finance and technology are a pair of "twin twins", especially after Shanghai proposed the goal of building a globally competitive fintech center, technology enterprises and financial institutions have become "neighbors", which is no longer new in Lujiazui.

Shanghai's financial industry has a deep foundation, and technological innovation has been nurtured by the "financial vitality" for a long time. In 2022, the added value of Shanghai's financial industry was 862.631 billion yuan, an increase of 5.2% compared to the previous year, and the total transaction volume in the financial market was 2932.98 trillion yuan, a year-on-year increase of 16.8%. Since the opening of the Science and Technology Innovation Board, the demonstration effect and industrial agglomeration effect supporting scientific and technological innovation have become increasingly apparent. As of the end of May this year, the IPO financing of the Science and Technology Innovation Board was 820 billion yuan, and 96% of enterprises received support from venture capital. The establishment of the Science and Technology Innovation Board has attracted a large number of private equity funds and venture capital funds to invest in science and technology innovation enterprises, and is helping Shanghai move towards a global science and technology innovation center.

Shanghai has gathered a number of national level financial factor markets and financial infrastructure, with over 1700 licensed financial institutions from both domestic and foreign sources, providing sufficient development momentum, rich participating entities, massive financial data, and broad application scenarios for the development of fintech in Shanghai.

At the same time, technological progress has also reversed the digital transformation of the financial industry, becoming an important focus for Shanghai to build a higher-level international financial center.

Taking blockchain as an example, due to its technical features such as tamper resistance and traceability, it can solve the problem of distrust between buyers and sellers, and is very suitable for the needs of the securities industry. The "Shanghai Stock Exchange Chain" of the Shanghai Stock Exchange Information Company has been applied to multiple brokerage service scenarios, such as on the private equity sales platform, which reduces the private equity sales time from two to three hours to 15 minutes. At the same time, relying on blockchain technology, it also has the function of trusted endorsement.

Discovering the "iPhone Moment" in Shanghai at the Bund Conference

"At present, China's consumer finance market is in a window of transformation." Fang Xiyuan, Global Managing Partner of McKinsey, stated at the Bund Conference that there are more opportunities for cooperation between financial institutions and fintech in vertical customer acquisition, precision digital marketing, and specialized teams. Jinrong Technology's capabilities in refined operations and data governance can effectively assist financial institutions in building their autonomous and intelligent risk control capabilities, as well as improving the efficiency of customer segmentation operations. "In the future ecosystem, financial institutions and technology enterprises will have greater cooperation and win-win space."

"Technological innovation has become a city label for Shanghai, with both its size and momentum. Through technological construction, Shanghai can enhance its position as an international financial center." Zheng Yunqing, Managing Director of UBS China Business Solutions Center, also believes that compared to other established international financial centers, the Science and Technology Fair is the best opportunity for Shanghai International Financial Center to "overtake on the bend".

Leading industries seize the opportunity

During the roundtable dialogue session at the main forum of the Bund Conference, foreign academician Zhang Hongjiang of the National Academy of Engineering and Chairman and CEO of Ant Group, Jing Xiandong, both mentioned two words about technological change: the "iPhone moment" of artificial intelligence and the "new world" of large models.

In January of this year, Fortune magazine rated the Big Model as the "iPhone Moment" of artificial intelligence. Zhang Hongjiang believes that after the release of the iPhone in 2007, the world has ushered in the golden 15 years of mobile Internet, and the big model will also bring about industrial changes in the AI era. Jing Xiandong quoted the lines from "Oppenheimer", as the invention of the atomic bomb "is not a new weapon, but a new world", and the emergence of the large model "is not a new technology, but a new world".

If you stroll around the technology exhibition area of the Bund Conference, it is not difficult to find that "iPhone Moment" is not just a big model? With the early deployment of three leading industries and five future industry clusters, Shanghai's future technologies such as 6G networks and brain computer interfaces are getting closer, and the data and data business ecosystem has always been in the top tier in the country.

Faced with the saturation of existing wireless communication frequency bands, terahertz frequency band is a new space and one of the key technologies in 6G mobile communication, space communication, and other fields. The Bund Conference showcased Professor Yu Jianjun's team's advanced 6G photonic broadband terahertz communication system from Fudan University. Based on photonic terahertz sources, multi-dimensional multiplexing technology, advanced high-order modulation technology, and advanced digital signal processing technology, it achieved the generation of high-quality and broadband terahertz vector signals. "6G networks are a hundred times faster than 5G. If 5G were a high-speed rail, 6G would be like a rocket, breaking through the bottleneck of signal transmission, and technological challenges such as AR, VR, and metaverse would no longer exist."

"Although big data has been 'shouting' in the industry for over a decade, the development of data elements is still in its early stages to this day." Zou Liang, Vice President of Ant Group's Digital Technology Business Group, told reporters that in recent years, data exchanges in Shanghai, Zhejiang, Guangdong, Beijing and other regions have successively established. The earliest established Guiyang Data Exchange has been upgraded to the latest 3.0 stage, and the National Data Bureau has also been established at the national level

Various signs indicate that the data factor market is about to reach a critical point of explosion. Last month, Shanghai released a three-year development blueprint for the data element industry: by 2025, the data element market system will be basically established, the scale of the data industry will reach 500 billion yuan, and 1000 digital commerce enterprises will be attracted.

At present, the number of data products listed on the Shanghai Data Exchange has reached nearly 1400, with a monthly increase of over 100. Wei Zhilin, Deputy General Manager of Shanghai Data Exchange, stated in an interview with reporters that the first phase of the blockchain based data trading chain of Shanghai Data Exchange has been launched, and data products from seven other data trading institutions across the country have been put on the chain. Next, we will promote the interconnection of trading institutions, mutual recognition of data and commercial entities, and linkage between on and off exchange transactions, focusing on building a unified registration and certification service system for data resources, products, and assets.

"How far away is the commercial use of 6G from us?" The answer obtained by the reporter is that it will take about 10 more years.

"How long will it take for the national data unified market?" The answer is still "still steadily advancing step by step.".

At this year's Bund Conference, it may be difficult to predict the timing of these future technology "iPhones", but it has anchored the direction. Starting from the Bund, Shanghai will eventually go further and further.

Is there a market for wearing VR headsets to visit "Cloud Park"?, Shanghai Park will have over a thousand parks during the 14th Five Year Plan period | Shanghai | Cloud Park

As of the end of 2022, Shanghai has included 670 types of parks under the management of the urban and rural park directory, including 438 urban parks, 172 pocket parks, 59 rural parks, and 1 theme park. By the end of 2025, Shanghai will add more than 600 new parks through construction or renovation, bringing the total number of parks to over 1000. How can the landscaping industry assist Shanghai in building a "park city"? How can we contribute to the implementation of the "dual carbon" goals? At the 19th China International Landscape Industry Trade Expo, which opened on June 29th, many enterprises were eager to give it a try and rubbed their hands together. Walking around the park without leaving home, wearing a virtual reality headset display device, the Mianqing Park, built and opened earlier this year, will come into view. With the control handle, you can stroll around the park

Shanghai's banking industry has released a self-discipline convention, scientifically setting interest rate pricing, and not using interest rates as a single means to compete for customer development | industry | interest rates

Under the guidance of the Shanghai Banking and Insurance Regulatory Bureau, the Shanghai Interbank Association recently formulated and released the Self Discipline Convention on Creating a Sustainable Credit Market Environment for the Shanghai Banking Industry, which applies to all member units of the Shanghai Interbank Association engaged in credit business. The Self Discipline Convention emphasizes that member units should adhere to the general principle of seeking progress while maintaining stability, operate in accordance with the law and regulations, based on changes in the interest rate market and the strategic positioning of the bank, adhere to the principle of deposit to loan, play the guiding role of LPR in loan interest rates, and reasonably determine the pricing level of interest rates. Interest rates should not be used as a single means to attract customers, while balancing the social responsibility and commercial sustainability of banking institutions, and maintaining the bottom line of avoiding systemic risks. Member units should establish a healthy, compliant, and sustainable performance concept, adhere to the origin of financial services for the real economy, scientifically formulate interest rate pricing strategies, and

A heavy rainstorm is coming, two days earlier than usual, and Shanghai will be in the plum blossom tomorrow | rain belt | a storm

The Shanghai Meteorological Bureau announced today that according to the latest meteorological data analysis, the atmospheric circulation situation in East Asia is currently adjusting, with the subtropical high pressure rising northward and the precipitation process increasing in the middle and lower reaches of the Yangtze River. Shencheng will officially enter the plum blossom season on June 17th. This year, the onset of the plum blossom season is slightly earlier than usual by two days. In the early stage of the rainy season, the rain bands are unstable and show a north-south oscillation trend. Shanghai also experiences occasional cloudy and rainy weather. The Shanghai center Meteorological Observatory forecast that a heavy to rainstorm was on the way. Affected by the eastward movement of the high trough, there will be a heavy rain to rainstorm process in Shanghai on Sunday and next Monday, accompanied by lightning, short-term heavy rainfall and thunderstorm gales. The main precipitation period occurs from Sunday afternoon to next Monday morning, with uneven distribution of rainfall. The cumulative rainfall is 40 to 60 millimeters, locally 70 to 90 millimeters, and the maximum hourly rainfall intensity is 30 to 50 millimeters. Expected rain belt south next Tuesday

Welcome foreign institutions to China for business expansion. In these four financial fields, Li Yunze said finance | management | welcome

At the 14th Lujiazui Forum held today, Li Yunze, Director of the State Administration for Financial Regulation and Co rotating Chairman of the Forum, stated that he will always adhere to the unwavering opening up of the financial industry to the outside world, and the door to the opening up of the financial industry will only continue to widen. Recently, Faba Bank Wealth Management will open in Shanghai. "We will continue to adhere to the combination of 'bringing in' and 'going out', steadily promote high-level opening up of the financial industry to the outside world, and continue to create a market-oriented, legal, and international business environment." Li Yunze said that in areas such as wealth management, green finance, elderly care and health, and asset management, we warmly welcome foreign-funded institutions with stable operations and excellent qualifications to come to China for business development, and encourage eligible foreign-funded institutions to participate in various business pilot projects. Implement high-quality regional comprehensive economic partnership agreements and continuously improve the level of institutional openness in the financial industry. Optimize cross-border

What high-quality public resources will be implemented?, The collection of public building and landscape project proposals for the five new cities in Shanghai this year concludes with Architecture | New City | Public Buildings

On June 7th, the Shanghai Municipal Planning and Resources Bureau announced that the design plans for 15 public buildings and landscape projects in five new cities in 2023 have come to an end, and will accelerate the gathering of high-quality public resources in the new cities. 15 public building and landscape projects have attracted 45 design units from 9 countries to participate. A batch of excellent design proposals stood out in the layers of evaluation. The proposals presented this time have basically demonstrated the planning and design trends of the new city. For example, highlighting "people's cities" and caring for the needs of the people. In March of this year, relevant departments in Shanghai held an event to solicit opinions from citizens on the construction of the new city. As of March 31, a total of 3786 proposals have been received. These suggestions revolve around transportation facilities, ecological environment, public services, outdoor public spaces, etc., and are provided to the design team in the early stage of the design, as the focus of the scheme design

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Political situation

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Economics

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Viewpoint

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Vision

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