Overseas-educated scholars discuss China-UK cooperation in technology, finance

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LONDON, Oct. 11 (Xinhua) -- The Western Returned Scholars Association (WRSA) held a China forum here Friday to discuss the cooperation potentials between China and Britain in technology, finance and education.

The 17th WRSA 21st Century China Forum, organized by WRSA's UK branch and held at The Royal Society, drew over 100 representatives.

Richard Catlow, vice president of The Royal Society, hailed the contribution of overseas-educated Chinese scholars to the exchanges between China and the rest of the world.

"More and more Chinese scholars travel abroad for education, work and research, and more and more of them return home, bringing the experiences and connections they've gained. This process facilitates growth both in professional links and mutual understandings which is so important for the scientific communities of China and the rest of the world," he said in the welcome speech.

At the forum, Chinese Ambassador to Britain Liu Xiaoming said that in the past 70 years China has achieved fruitful results in finance, science, technology and innovation, and China's development is not only an achievement for China itself but also a contribution to the whole world.

He said China-UK cooperation has not only a solid foundation but also the benefit of complementary strengths that can help achieve multiplying effect.

Take the example of fintech, which combines technology with financial services, Liu said: "China has a vibrant ecosystem for fintech innovation and entrepreneurship. The market is huge, and there is a particularly strong growth momentum in mobile payment and online loans. The UK has rich experience in consumer finance, digital banking and big data analysis."

"With these complementary strengths, China and the UK could work together to give more support and guidance to fintech companies and take the lead in international rule-making to facilitate the growth of FinTech. We could also explore innovative solutions for the global digital economy, especially to promote digital financial inclusion in developing countries. This will be win-win for our two countries and for the world," he noted.

Chen Zhu, president of WRSA, told the forum that facing a complex international landscape, China and Britain should join hands to take proactive steps, seize opportunities and address challenges to the benefit of Chinese and British people.

"Looking ahead, the two countries need to further play out their respective advantages and complement each other for win-win and even all-win," he stressed.

The forum also had a youth dialogue themed on the future of Chinese and British youths.

Founded in 1913, WRSA is an institution voluntarily established by overseas-educated Chinese students who have returned to China.

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