IFF Paris Europlace le 12 juillet 2018 à Paris au pavillon d'Armenonville

WAIFC – New global strategic alliance to facilitate cooperation and economic growth

Financial Services Leaders Announce Establishment Process of World Alliance of International Financial Centers

Financial services leaders from around the globe assembled in Paris on July 12, 2018, to announce their strategic alliance under the newly formed World Alliance of International Financial Centers (WAIFC) – a global organization created to facilitate cooperation and exchange of best practices across financial centers – and to finalize WAIFC’s common objectives ahead of the signing of WAIFC’s Charter and Statues by all members in September.

A financial center is a kind of a service infrastructure for investors and corporates to manage savings and to finance entrepreneurial risk to trigger economic growth in a sustainable environment. Financial centers are known for their clustering effect, they bring together financial institutions (banks, insurance companies, asset managers …), regional headquarters of multinational companies, professional services providers.

WAIFC was proposed by the financial centers of Frankfurt (Germany), Moscow (Russia) and Paris (France) in December 2016 to explore cross-fertilization opportunities and facilitate cooperation and the exchange of best practices among financial centers to help contribute to economic growth. They were joined in Paris by the financial centers of Abu Dhabi (U.A.E), Belgium, Casablanca (Morocco), London (UK), Luxembourg, Astana (Kazakhstan), Busan (South Korea), Tokyo (Japan) and Toronto (Canada).

Initially, WAIFC will focus on the following objectives, subject to approval by WAIFC’s Board of Directors:

  • Data on Financial centers
  • Green investment & infrastructure
  • FinTech
  • The role of financial centers in financing the economy

WAIFC will be incorporated as a Belgian association with its head office in the Financial Centre Frankfurt in Germany. Its first General Assembly is planned for the last quarter 2018.

Why WAIFC is Important

Financial centers are key to sustainable economic growth. They provide the infrastructure for investment and savings which go onto facilitate entrepreneurial endeavors and economic growth throughout industries and communities.

Financial centers are not identical in size or scope of activities but cross fertilization among centers can be useful to leverage collective and individual efficiencies and best practices, and thus increase competition and growth.

Find the official Joint Communique here.

Financial Centre Frankfurt welcomes new financial institution – Chinese CICC will be based in Frankfurt

The China International Capital Corporation (CICC) has decided to establish a continental European office in the Financial Centre Frankfurt. The Beijing-based investment bank has been listed on the Hong Kong Stock Exchange since 2015. Alongside CICC, more than 24 banks have chosen to relocate their European headquarters to or expand their capacities in the Financial Centre Frankfurt since the Brexit referendum two years ago.

“We are extremely delighted by CICC’s choice in location,” says Hubertus Väth, Managing Director of the Financial Centre initiative Frankfurt Main Finance e.V. “With the opening of the CICC office in Frankfurt, the leading investment bank from the world’s second-largest economy is now represented in the Financial Centre. We see this as another glowing affirmation of the high quality of the Rhine-Main region. CICC’s decision confirms that the city’s strong appeal extends far beyond Europe and can attract financial institutions from Asia, a region whose impressive significance continues to grow,” comments Väth.

Just recently, the Chinese bank, Essence Securities, chose to establish its base in Frankfurt. The Frankfurt-based China Europe International Exchange (CEINEX) was a decisive factor for both Chinese financial institutions. A fact that is clear to CHEN Han, Co-CEO of CEINEX.

“We are convinced that the city will become the leading Financial Centre in the Eurozone, which is why we came to Frankfurt. The city is the ideal stepping stone for Chinese financial institutions, who plan on establishing a foothold in Europe or seek to expand their market presence,” says Dr. CHEN. “We are happy and proud that we could play a significant role in attracting an important institution like CICC to Frankfurt.”


About Frankfurt Main Finance

Frankfurt Main Finance is the voice of the leading financial centre in Germany and the euro zone, Frankfurt am Main. The initiative has more than 50 members including the State of Hesse, the cities of Frankfurt and Eschborn, and dozens of prominent actors in the finance sector. Through their membership and engagement, they all demonstrate their close relationship to Frankfurt and desire to position Frankfurt amongst the top national and international financial centres. Frankfurt Main Finance leverages the influence of its members to advocate for the Financial Centre Frankfurt and provide high-caliber dialogue platforms. For more about Frankfurt Main Finance and its members, please visit www.frankfurt-main-finance.com.

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About China Europe International Exchange AG (CEINEX)

Based in Frankfurt/Main, Germany, CEINEX is a joint venture established by the Shanghai Stock Exchange, the Deutsche Börse Group, and the China Financial Futures Exchange. As the first market place for RMB-related and China-related investment products in the Chinese offshore market, it acts as a unique bridge between the Chinese and international financial markets. CEINEX is dedicated to providing reliable offshore RMB- and China-related financial instruments to investors, so as to promote RMB internationalization.

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CEINEX Newsletter – July 2018

The new CEINEX (China Europe International Exchange) newsletter is out now. Below are the highlights in CEINEX newsletter of July:

  • ETF No. 15 on CEINEX Marks Europe’s First China Smart Beta ETF Launched by China Post Global
  • China Securities Regulatory Commission Approves Haier’s Application for Offshore-listing on CEINEX D-share Market
  • China Eases Restrictions on Institutional Investor Programs
  • China’s Trust Sector Reports Slowdown Amid Risk Prevention
  • Economic Watch: MSCI Nod Gives Foreign Investors Chance to Share China’s Market Dividends

CEINEX is the first dedicated platform for China- and RMB-related investment products outside Mainland China that publishes a monthly newsletter featuring CEINEX news and news from their three shareholders – Shanghai Stock Exchange (SSE), Deutsche Börse Group (DBAG), and China Financial Futures Exchange (CFFEX).

Download the Newsletter as a PDF here: English Chinese

To subscribe  the newsletter by e-mail, please write to ceinex.forum@ceinex.com.