Hainan Free Trade Port International Cooperation Forum on Digital Economy and Blockchain

On December 5th and 6th, the Hainan Free Trade Port International Cooperation Forum on Digital Economy and Blockchain organised by Hainan Provincial Department of Industry and Information Technology and supported by the Finance Center for South-South Cooperation (FCSSC), Hainan Eco-Software Park and Huobi China, was successfully held in Haikou, Hainan Province. This forum is the First International Blockchain Forum at the ministerial level. The event brought together local and foreign representatives to discuss the opportunities, challenges, and cooperation of blockchain technology and the digital economy.

Representatives from the Finance Center for South-South Cooperation (FCSSC), including Zhang Laiwu (Chief Economist), and Wu Zhong, (Director General), attended the forum and delivered speeches. In the opening ceremony, Cai E’Sheng, Chairman of FCSSC, said the application of blockchain technology has brought disruptive revolution to economic and social development. Countries around the world are working towards the acceleration of blockchain technology development to promote the digital transformation to capture the competitive advantage of the digital economy.

Zhang Laiwu, Chief Economist of FCSSC, said that the emergence of blockchain and digital economy is a remarkable event in the history that signals the arrival of a new era in civilisation. Digital economy and contemporary industrial civilization both substitute and complement each other.

In the afternoon's opening speech, Wu Zhong, Director General of FCSSC, shared his understanding of the application of blockchain technology. He emphasized that blockchain is a technology that has an impact on factors of the value chain, and these new technological developments could trigger changes in economic theory. Blockchain technology will also help to improve international cooperation, global governance, and promote economic and social development in countries of the global south.

Wang Lu, Vice Governor of Hainan Province, Gao Jian, former Vice President of China Development Bank, and Yang Chunzhi, General Manager of Hainan Eco-Software Park, attended the forum. In addition, 14 ministerial officials from multiple countries and regions attended, including Meyer Massim, advisor to the Minister of Economic Affairs of Russia, Jiang Yan, representative of the Kingdom of Bahrain's Economic Development Committee in China, Albert Isola Minister for Commerce HM Government of Gibraltar, Kerat Kaliyev, Minister of Development of Astana International Finance Center in Kazakhstan, and Saparudin, Executive Governor of the Special Economic Zone of Banga, Indonesia.

This forum also proposed to establish the Global Blockchain and Digital Financial Cooperation Forum for exchanging resources. It also aims to promote the structured development, integration, and cooperation of the global blockchain industry.