Visit of Minister of Finance V. Šapoka to Beijing – Opportunities for Cooperation in

Date

2018 05 25

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1
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On 27 May, Minister of Finance Vilius Šapoka starts the visit to China, where he will participate in the China International Fair for Trade in Service (CIFTIS), meet the management of the Ministry of Finance of China and representatives from the financial services sector of China.

At the CIFTIS Mr. Vilius Šapoka will present Lithuania’s experience in creating a favorable regulatory environment for fintech companies and in ensuring an adequate level of consumer protection, also Lithuania’s ambition to become the fintech international centre and will invite the Chinese business to invest to our country. During the event, the Agency for Science, Innovation and Technology (MITA) of Lithuania and CIFTIS will sign the Agreement on Cooperation in Science and Innovation.

During the meetings with the management of the Ministry of Finance of China, Central Bank leaders the views will be exchanged concerning the cooperation possibilities in the financial services sector, development of relations between the EU and China, significance of sustainable finances in implementation of environmental and social projects as well as fintech development and challenges. The Minister will also present Lithuania’s ambition to become the fintech coordination centre of the 16+1 sub-regional cooperation format which brings together China and central, eastern and southeastern European countries. This would create conditions for direct cooperation between our country and China.

The visit programme also envisages the meetings with business community of China, Honorary Consul of Lithuania to Mongolia, representatives form the Parliament of Mongolia and business community to discuss financial services trends, regulatory changes and investment opportunities in Lithuania.

*CIFTIS is the International Fair for Trade in Service organised by the State Council of China and  Beijing Municipality since 2012. The Fair is a valuable opportunity to hear insights and proposals of a world-class financial market representatives that would help Lithuania to become even more attractive base for  innovative fintech companies.