China's capital city Beijing will host the Swift International Banker's Operation Seminar (Sibos) from Oct. 21 to 24, 2024, bringing the event to the Chinese mainland for the first time, the Beijing municipal government and Swift announced on Monday.

Beijing's successful bid for Sibos 2024 is an important milestone in China's efforts to open up its financial sector and an opportunity to showcase Beijing's image as well as the country's determination to reform and open up.

The city is the national center for financial management and is home to national financial authorities, headquarters of large financial institutions, important financial infrastructures, and international financial organizations. Currently, Beijing's total financial assets exceed 190 trillion yuan (US$27.63 trillion), accounting for about half of the country's total, and the output of the financial industry accounts for nearly one-fifth of Beijing's GDP.

As the world's premier financial services event organized by Swift, the Belgium-headquartered global provider of secure financial messaging services, Sibos serves as an important platform for the financial sector to exchange ideas, foster cooperation, and expand businesses.

Since 1978, the event has been held annually around the world in major cities in Europe, America, and Asia, bringing together thousands of financial executives and experts from over 150 countries and regions.

Hong Kong hosted the event in 1991 and 2009. Sibos 2022 was held in Amsterdam, the Netherlands, and the 2023 conference will be held in September in Toronto, Canada.

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