Minister of Finance Vilius Šapoka in Beijing: Let’s Build International Cooperation Bridges in Financial Innovation

Date

2018 05 29

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Today the statement given by Minister of Finance Vilius Šapoka in the China International Fair for Trade in Service (CIFTIS) has attracted a great deal of attention. The Minister of Finance presented Lithuania and its potential to several thousand people. Mr. Vilius Šapoka participated in the panel “China E-Commerce Convention”, also discussed about FinTech at the forum.

“Favourable conditions for cooperation with China open up opportunities for investments to our country and for strengthening Lithuania as a progressive FinTech centre. Lithuania can be reached in different ways, however the quickest way is FinTech. Our country has a distinct regulative advantage – the Law on Crowdfunding, functioning peer lending platforms, we guarantee cybersecurity and are in the preparation process of the guidlines on ICO – this stimulates the interest of the Chinese business community in investment to Lithuania”, said Minister of Finance Vilius Šapoka.

At the Forum “Belt and Road Fintech” organised by the Ministry of Finance and the Embassy of Lithuania to China Mr. Vilius Šapoka together with businessmen from Lithuania Mr. Ilja Laurs (Nextury Ventures), Mr. Andrius Adamonis (Tieto Lietuva) and the representatives from the Chinese government as well as academia discussed about the global nature of financial technology, presented Lithuania’s experience in creating a favourable regulatory environment for FinTech companies and ensuring an adequate consumer protection in FinTech area. The discussion was moderated by Mr. Tom Kim, Managing Director of Thomson Reuters in China.

*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 world-class financial market representatives that would help Lithuania to become even more attractive base for innovative FinTech companies.