Fintech PR
SCO economic, trade cooperation continues to expand
BEIJING, July 4, 2023 /PRNewswire/ — A report from People’s Daily: The SCO Industrial and Supply Chains Forum and the 2023 SCO International Investment and Trade Expo kicked off recently in Qingdao, east China’s Shandong province.
A total of 330 enterprises and organizations from 34 countries and regions, including the Shanghai Cooperation Organization (SCO) member states and regions along the Belt and Road Initiative (BRI) routes, showcased more than 10,000 types of imported specialties at the expo. Deals for purchases of goods totaling a billion yuan ($140 million) were inked.
At present, the world is facing a sluggish economic recovery, while global industrial and supply chains are undergoing in-depth adjustments.
In the face of instability and uncertainties in the world economy, SCO countries have strengthened collaboration of industrial and supply chains and promoted effective aggregation of factors and resources, contributing to the resilience and stability of the global chains, said participants in the forum.
Stable and efficient industrial and supply chains are crucial to the SCO regions and the world, noted SCO Deputy Secretary-General Nurlan Yermekbayev.
At this year’s investment and trade expo, a rich array of characteristic food, consumer goods, handicrafts, and agricultural products from different countries were put on display, offering visitors a chance to shop while enjoying a glimpse into foreign customs and traditions.
The exhibition zone of Russia was designed to resemble an elegant and romantic avenue, with a large screen wall displaying the Russian State Historical Museum.
The exhibition area of Egypt was decorated with national elements, including pyramid models, pharaoh statues, as well as live-action scenes of dromedaries and cactuses in the desert, attracting many visitors to take pictures.
Honey, dairy products, jam, and other characteristic products from Kyrgyzstan were also showcased. According to a staff member of the Ministry of Economy and Commerce of the Kyrgyz Republic in China, Chinese consumers have shown a strong interest in products from Kyrgyzstan, but lacked purchasing channels.
A batch of agricultural products from Kyrgyzstan, including honey and cherries, has arrived in China recently, said the staff member, adding that Kyrgyzstan was ready to open an official online store on Chinese e-commerce platform JD.com and planned to open brick-and-mortar stores in Chinese cities including Qingdao and Urumqi, northwest China’s Xinjiang Uygur autonomous region.
Since the establishment of the SCO in 2001, China’s trade with other SCO member states has been climbing. The trade volume reached $343.3 billion in 2021, a 28-fold growth from 2001.
The China-SCO Local Economic and Trade Cooperation Demonstration Area (SCODA) in Qingdao saw its foreign trade volume hit 36 billion yuan in 2022, up 38.3 percent year-on-year.
The SCODA has launched 31 regular international railway routes connecting China and 54 cities in 23 countries, including SCO members and countries along the BRI routes. In 2022, a total of 279,000 twenty-foot equivalent units (TEUs) of containers were handled, up 5.4 percent from the previous year.
The forum witnessed the launch of the SCO Comprehensive Service Platform 2.0. As China’s first one-stop public service platform for local economic and trade cooperation among SCO countries, the platform has attracted nearly 5,000 enterprises since its launch.
The 2.0 version focuses on meeting the actual needs of SCO countries, such as import and export processes, local currency settlement, barter trade, and the reciprocal recognition of supervision.
It has innovatively incorporated a good number of systems for services covering SCO cross-border payment and settlement, new forms of cross-border barter trade, aviation logistics, used-car exports, and taxpayer information verification, effectively solving problems including poor cross-border settlement channels between SCO countries in the past.
As the largest regional cooperation organization in the Eurasian continent with the greatest potential, the SCO has made unique contributions to regional stability and development.
Efforts will be made to leverage platforms including the SCO Industrial and Supply Chains Forum to continuously motivate various parties to deepen pragmatic cooperation, according to Yermekbayev, who noted that regional economic cooperation among SCO countries will yield more fruitful results.
View original content:https://www.prnewswire.co.uk/news-releases/sco-economic-trade-cooperation-continues-to-expand-301869395.html
Fintech PR
Bybit’s CEO Meets with Vietnam’s Minister of Finance to Support Regulatory Sandbox and Strengthen Crypto Compliance
DUBAI, UAE, April 19, 2025 /PRNewswire/ — Ben Zhou, Co-founder and CEO of Bybit, one of the world’s second-largest cryptocurrency exchanges by trading volume, met with H.E. Nguyen Van Thang, Minister of Finance of Vietnam, to express Bybit’s strong support for the country’s regulatory sandbox initiative and its vision to build a safe, transparent, and innovation-friendly digital asset ecosystem.
Hosted at the Ministry of Finance headquarters, the meeting centered on Vietnam’s efforts to establish a comprehensive legal framework for crypto assets. Minister Nguyen Van Thang outlined the Government’s plan to launch a pilot sandbox mechanism that will allow regulators to test the issuance and trading of crypto assets in a controlled environment. This initiative is designed to mitigate risks, strengthen investor protection, and ensure regulatory readiness before introducing official legislation.
A key part of the discussion focused on safeguarding the market against illicit activities. The Minister emphasized the importance of robust compliance frameworks, including Anti-Money Laundering (AML) and Know Your Customer (KYC) protocols, to prevent the misuse of digital assets and support the country’s financial security.
In response, Ben Zhou welcomed Vietnam’s measured and responsible approach to digital asset regulation and reiterated Bybit’s long-standing commitment to compliance:
“Vietnam’s forward-thinking regulatory sandbox is a critical step toward unlocking the full potential of blockchain technology. At Bybit, we are fully aligned with the Government’s focus on investor protection and financial integrity,” said Ben Zhou, Co-founder and CEO of Bybit. “We are proud to share our expertise in KYC, AML, and global compliance standards, and we look forward to supporting Vietnam in building a resilient, secure, and dynamic crypto economy.”
Bybit expressed its readiness to collaborate with Vietnamese authorities on several fronts, including system architecture design, transaction oversight, and the implementation of international best practices in AML/KYC. The exchange also proposed support in capacity building, such as training financial regulators and sharing experiences from other jurisdictions.
Minister Nguyen Van Thang welcomed Bybit’s proactive approach and assigned the State Securities Commission to coordinate with Bybit on concrete proposals. He also commended Bybit’s reputation for strong financial capabilities, technological resilience, and its adherence to legal and regulatory requirements in the markets where it operates.
This meeting underscores Bybit’s growing role as a trusted international partner for regulatory dialogue and innovation. It also highlights Vietnam’s readiness to embrace blockchain technology while ensuring financial safety and public confidence in the digital asset space.
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.
For more details about Bybit, please visit Bybit Press.
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View original content:https://www.prnewswire.co.uk/news-releases/bybits-ceo-meets-with-vietnams-minister-of-finance-to-support-regulatory-sandbox-and-strengthen-crypto-compliance-302432942.html
Fintech PR
Breaking Borders, Building Bridges: How “Shanghai Summer” Is Redefining Global Consumption
SHANGHAI, April 19, 2025 /PRNewswire/ — Summer consumer campaigns have long been a key engine for economic growth. Now, Shanghai is stepping into the global spotlight with a bold “urban consumption experiment.” On 18 April, the 2025 “Shanghai Summer” International Consumption Season was officially launched at Xujiahui Centre, unveiling innovative concepts such as “240-Hour Products” and City Customised Events, aiming to redefine the summer experience across retail, travel, and lifestyle.
According to China UnionPay, foreign card spending surged by 68.2% during the 2024 campaign period. Key commercial areas stood out significantly: Huaihai Road saw a 208.6% increase in overseas card spending (with an average spend of RMB 1,597), while the Lujiazui-Zhangyang Road area rose by 119.9% (average spend: RMB 1,998). Total offline consumption in Shanghai reached RMB 815.9 billion, marking an 8.2% year-on-year increase, with dining consumption up by 26.9%.
The “240-Hour Products” initiative will bring together top-tier city resources to provide overseas visitors with an immersive “starter kit” experience. China Eastern Airlines will offer direct discounts on group flight packages across 30 international routes, supported by smart mobility tools such as the English-language versions of Air Travel Assistant and AutoNavi Map.
In payment, China UnionPay enables foreign card acceptance at 65,000 merchants across Shanghai. Visa is co-developing “Payment-Friendly Zones” to enhance QR code payments and tax refund experiences for international travelers. A “Shanghai Summer” themed card and spending promotions further support this multi-channel payment ecosystem.
Visitors can unlock transport and retail perks with the “Shanghai Pass” one-day ticket, valid for metro, ferry, and sightseeing tunnel rides. Travel platform Trip.com has launched a dedicated “Discover Shanghai” page, featuring integrated “Shanghai Express” free city tours to offer a seamless digital experience. The city’s dining scene has also been elevated with multilingual menus and themed culinary campaigns from Marriott and Jin Jiang, available in Chinese, English, and Korean.
Culture takes center stage in this year’s campaign.The 2025 edition of “Shanghai Summer” will spotlight global lifestyle IPs through immersive activations — including experiences from Shanghai Disney Resort, the LEGO China-hosted “World Play Festival,” and POP MART’s “Summer Trend Play” campaign. By blending global trends with food, music, and local creativity, the city will be transformed into a vibrant, multi-sensory celebration of summer, bursting with international flair and dynamic urban energy.
The multilingual official website www.shanghaisummer.com is now live, featuring an AI-powered travel assistant and virtual avatar, “Shanghai Xiaoxia,” to help visitors plan itineraries and explore the city interactively. Global KOLs will take part in the campaign across platforms including Instagram, Xiaohongshu, and TikTok — bringing the essence of Shanghai’s summer to audiences around the world. From the first weekend of July to the second weekend of October, Shanghai offers a renewed invitation to the world — a thoughtfully curated urban journey that highlights the city’s global charm as a destination to shop, enjoy, and explore.
Media Contact: Lu media@shanghaisummer.com
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View original content:https://www.prnewswire.co.uk/news-releases/breaking-borders-building-bridges-how-shanghai-summer-is-redefining-global-consumption-302432937.html
SHANGHAI, April 19, 2025 /PRNewswire/ — The 2025 “Shanghai Summer” International Consumption Season officially launched on 18 April at Xujiahui Centre. With innovative offerings like the “240-Hour Products” and “City Customised Events,” this year’s programme presents a city-level consumer experience that blends international lifestyle with summer vitality. The first stop of the global roadshow will arrive in Osaka, Japan this May, continuing to share Shanghai’s summer story with international audiences.
A new wave of flagship events is set to unfold. Three globally popular IPs—LEGO China， POP MART, and Shanghai Disney Resort—will join forces in Shanghai. The LEGO China Discovery Resort will enter trial operations, with the ” World Play Festival” making its global debut. POP MART will bring its “Summer Trend Play” series to life, featuring IP exhibitions, new product launches, and interactive pop-ups. Shanghai Disney Resort will also unveil various summer-themed activations, creating immersive entertainment experiences for all ages.
To enhance inbound tourism, “Shanghai Summer” integrates transportation, attractions, and retail districts into a “starter kit” experience tailored for international travellers. China Eastern Airlines will offer discounted group packages across global routes. In terms of payment, Visa is co-developing “Payment-Friendly Zones” to enhance QR code transactions and tax refund scenarios for international travelers. China UnionPay is expanding foreign card acceptance to 65,000 merchants citywide and has launched the “Shanghai Summer” themed card along with a variety of promotional offers—creating a diversified payment ecosystem that integrates credit cards, mobile payments, and digital RMB.
In 2024, offline spending in Shanghai reached RMB 815.9 billion, an 8.2% increase year-on-year. Dining consumption rose to RMB 96.4 billion, up 26.9%. Foreign card spending surged by 68.2%, with Huaihai Road seeing a 208.6% increase and the Lujiazui-Zhangyang Road area growing by 119.9%—demonstrating the city’s growing international appeal.
The official website www.shanghaisummer.com is now available in five languages. AI assistant “Shanghai Xiaoxia” is also online, with many offerings equipped with Japanese-language support—welcoming global travellers to join this vibrant summer celebration in Shanghai.
Media Contact: Lulu media@shanghaisummer.com
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View original content:https://www.prnewswire.co.uk/news-releases/shanghai-summer-a-one-of-a-kind-seasonal-experience-302432728.html
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