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Chen Kewen ,Secretary General of AFCA：Work Together to Build the Asian Financial Inclusion Ecosystem
On the afternoon of July 2, 2020, Asian Financial Cooperation Association (AFCA) and the Boao Forum for Asia (BFA), with support of Institute of Digital Finance (IDF) of Peking University, jointly held an online roundtable on Ecosystem Building and Digital Development of Financial Inclusion. Chen Kewen, Secretary General of the AFCA, delivered the welcome remarks.
Below is the full text of the speech.
Welcome
Remarks at the
Roundtable on Ecosystem Building and Digital Development of Financial Inclusion
in Asia
Chen Kewen,
Secretary General of Asian Financial Cooperation Association
2 July 2020
Distinguished Guests,
Dear all,
Good
afternoon. Let me begin by thanking you for your attendance. AFCA is a regional
organization for international financial cooperation. It was first initiated by
President Xi Jinping at Annual Conference 2015 of the Boao Forum for Asia.
Since its establishment in 2017, AFCA has been devoting itself to building a
regional financial information-sharing platform, founding Asian Financial Think
Tank, promoting the best practices in regional financial inclusion, green
finance, FinTech and other fields.
Secretary General Chen Kewen delivered welcome remarks
Financial inclusion is an effective means of advancing balanced and sustainable development in Asia. It plays a significant role in improving people’s well-being, and promoting social harmony. Asian countries with different levels of economic development have gained experiences in solving universal and differentiated problems. These valuable experiences can serve as good references for each country to avoid detours and promote financial inclusion based on local conditions. Countries may build a financial inclusion ecosystem by taking efforts at least in the following four aspects. First is to intensify financial support in weak fields with focus on solving social and financial exclusion problems. Second is to apply concepts and technologies of digital development to improve the coverage, accuracy and transparency of financial services. Third is to implement a customer-oriented business strategy and provide appropriate and affordable financial services to the customers. Fourth is to improve MSME’s ability to survive, develop and innovate, and enhance financial literacy of the public to narrow the gaps in development, wealth and income.
Ladies and gentlemen,
The COVID-19 outbreak has largely impacted the global supply and demand. The pressure of economic recession is increasing in Asia and the world. The current unusual time requires us to stand together, help and support each other. We should deepen exchanges and cooperation among countries in the post-pandemic era, and boost the Asian economy to embrace the rainbow soon after the storm.
Thank you very much.
