As the premier annual gathering for the global financial industry, the SWIFT International Banker's Operation Seminar 2024 (Sibos 2024) kicked off in Beijing on Monday. It is the first time the conference is being held on the Chinese mainland.

Themed "connecting the future of finance," the four-day event brings together more than 10,000 participants from more than 150 countries and regions in the Chinese capital city.

This year's event features a strong lineup of leading institutions and has a high level of international participation. The exhibition is divided into two areas: the main exhibition and the fintech exhibition. In the main exhibition, 133 financial and third-party institutions are participating, with foreign institutions making up 86% of the exhibitors. Prominent global financial players such as JPMorgan Chase, Citibank, HSBC, Bank of America, BNP Paribas, along with China's Industrial and Commercial Bank, Bank of China, and key financial infrastructure institutions, including the China Central Depository & Clearing Co., Ltd, and the Cross-Border Interbank Payment System (CIPS), are all in attendance. Over 50 companies, including the BIS Innovation Hub Centre, are participating in the fintech exhibition.

More than 250 sessions have been confirmed for the conference, with over 500 distinguished guests invited to share insights on topics ranging from banking, payments, digital assets, trade finance, artificial intelligence, to sustainable finance. In addition to the industry-focused discussions, the event will feature high-level keynotes, leadership insights, expert panels, and innovation-theme forums.

Sustainability remains a key focus for Sibos. For the first time in the conference's history, the Beijing event is powered entirely by renewable energy. Efforts to reduce carbon emissions include the use of modular, reusable exhibition stands and encouraging participants to commit to sustainable practices, making this year's event a model for carbon reduction in the Asia-Pacific region.

Hosting Sibos in Beijing marks a major milestone in China's ongoing financial liberalization efforts. As the country's financial management hub, Beijing is home to key financial regulatory bodies, major infrastructure platforms, international organizations, and industry associations. It holds about half of the nation's financial assets and leads in various metrics such as insurance depth and employment in financial services. 

In recent years, Beijing has taken the lead in various financial reforms, including broader market access in the financial sector, expanded capital account openness, and enhanced convenience for foreign financial institutions operating in the city. These initiatives have positioned Beijing as a prime destination for foreign financial institutions looking to grow in China.

Sibos, organized by the Society for Worldwide Interbank Financial Telecommunication (SWIFT), is the leading global financial services conference. Since its inception in 1978, it has rotated between major financial hubs in Europe, the Americas, and Asia. While Hong Kong hosted the event in 1991 and 2009, this is the first time a city on the Chinese mainland is playing host.

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