Hangzhou to host first China edition of the leading payments and fintech event in 2018

Ascentialplc(LSE: ASCL.L), the global business-to-business information company,announces that its Chief Executive Duncan Painter has personally signed today in China alongside XieShuang Cheng, Vice Mayor of Hangzhou and Gu Chun Xiao, Deputy Warden of Xiaoshan, a long-term partnership agreements with the city of Hangzhou and the district of Xiaoshan to run a new edition of its highly successful Money20/20 event series. The new event called Money20/20 China will be held in November 2018 at the Hangzhou International Expo Center, the venue where the 2016 G20 Summit was hosted.

Tracey Davies, President, Money20/20, cited “China’s unique market and domestic appetite to both invent and embrace new fintech products” as the reason to launch this new edition of the leading payments and fintech event, adding that “The rise of fintech in China is something that no one in this industry can ignore.”

Money20/20 brings together visionaries and innovators from across the entire spectrum of payments, fintech and financial services to connect and create the future of money. Already boasting US, European and pan-Asian editions, Money20/20 offers participants unparalleled networking opportunities and a high-profile agenda, all of which underpins Money20/20’s mission to create a simpler, fairer, faster financial world for business and society.

The host city of Hangzhou, in China’s Zhejiang Province, has been chosen based on its long-term commitment to the future of finance. President Xi commented on its advanced commercial development at the Business 20 (B20) summit in Hangzhou last year, saying “just click the mouse in Hangzhou, and you connect the whole world.” Hangzhou is also home to such financial innovators as Alibaba and LianLian Group to name a few. Cashless, environmentally designed and home to a new wave of China’s internet entrepreneurs, Hangzhou will provide the perfect, long-term home for Money20/20 China.

Commenting on the launch in China, Davies said, “Thanks to the formidable speed, skill and scale of China’s inventiveness in fintech, China is often the country innovators look to for inspiration. It represents the largest fintech investment market in the world and at Money20/20 China, companies from China and international markets will have an unprecedented opportunity to learn about what makes China’s fintech industry so forward-looking and progressive.”

The launch of Money20/20 in China is being widely supported by prestigious partners including Ant Financial, Baidu Finance, IDG Capital Partners, LianLian Pay, Phoenix Finance, TencentWeChat Pay, Union Mobile Financial, as well as other key players from the industry. Support also comes from associations that include the Payments and Clearing Association of China, Zhejiang Association of Internet Finance and the Zhejiang Association of Banks.