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Guangzhou to host intl expo on finance
Update: 2020-09-23     Source: eguangzhou.gov.cn

The 9th China (Guangzhou) International Finance Expo (GIFE), a major platform for showcasing Guangzhou's and Guangdong province's innovative development achievements in financial reform, is scheduled to be held in Guangzhou from Sept 24 to 26.

First held in June 2012, GIFE has been held eight times and has developed into an expo for financial trade with large scale, strong regional influence, and rich content.

This year's expo is expected to gather more than 300 financial institutions and set up 10 themed exhibition areas spanning financial communication and cooperation, banks, securities, regional finance, financial culture, as well as green finance.

The added value of Guangzhou's financial industry in the first half of 2020 reached 114.17 billion yuan ($16.88 billion), with a year-on-year increase of 8.1 percent, accounting for 10.4 percent of the city's gross domestic product. The total assets of Guangzhou's financial industry exceeded 8 trillion yuan, of which over 7.5 trillion yuan were banking assets.

The balance of domestic and foreign currency deposits and loans in Guangzhou amounted to 11.74 trillion yuan by the end of July, climbing by 15.75 percent year-on-year, while the balance of domestic and foreign currency loans increased by 16.04 percent year-on-year to 5.18 trillion yuan.

Series activities like high-end forums, financial products trade activities, and a financial summit will be held during the expo.

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