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Fintech is technology-driven financial innovation, which aims to use modern scientific and technological achievements to transform or innovate financial products, business models, business processes, etc., and promote the improvement of quality and efficiency of financial development. In 2019, the People's Bank of China issued the first "Financial Technology Development Plan (2019-2021)", which clearly pointed out that in the context of a new round of scientific and technological revolution and industrial transformation, financial technology is booming, and information technologies such as artificial intelligence, big data, cloud computing, and the Internet of Things are deeply integrated with financial business, providing a continuous source of innovative vitality for financial development.

Dong Baohua, deputy secretary of the Financial Working Committee of the Municipal Party Committee, introduced that Qingdao has always attached great importance to the development of the financial technology industry and has put forward the goal of building a future financial technology center. Financial technology has achieved remarkable results in enabling inclusive finance, supply chain finance, and the construction of the industrial Internet. Qingdao has been approved for "national" pilot projects such as financial technology empowering rural revitalization and regional equity market blockchain construction. In the "Financial Technology" sub-list of the latest "Global Financial Center Index", Qingdao ranks 18th in the world and 6th in China.

Dong Baohua, deputy secretary of the Municipal Party Committee’s Financial Working Committee, spoke during the consultation.

"The Third Plenary Session of the 20th CPC Central Committee made important arrangements for deepening the reform of the financial system, requiring 'actively developing science and technology finance, green finance, inclusive finance, elderly finance, and digital finance, and strengthening high-quality financial services for major strategies, key areas, and weak links.' Financial technology is closely related to science and technology finance, green finance, inclusive finance, elderly finance, and digital finance, and is the technical support for them." Sun Guomao, an expert of the Shandong Provincial Decision-making Advisory Committee, a leading talent of Shandong Taishan Industry, a professor and doctoral supervisor at Qingdao University, believes that the development of financial technology cannot be separated from the support of a large number of talents. These talents span multiple professional fields such as finance and digital technology, and have the characteristics of "compound", "innovative", "professional", and "practical", and are the "hot cakes" that all regions are vying for. To promote the development of financial technology and strengthen the team of financial talents, Qingdao's talent policy must be coordinated with industrial policies, and a linkage effect between the government, financial institutions, enterprises, and universities must be formed.

Sun Guomao, an expert of Shandong Provincial Decision-making Advisory Committee, Shandong Taishan Industry Leading Talent, and Qingdao University professor and doctoral supervisor, spoke during the consultation.

In the early stage of the investigation, Sun Guomao found that compared with cities such as Shenzhen and Hangzhou, Qingdao's investment in scientific and technological research and development accounted for a relatively low proportion of GDP, which, to some extent, restricted the development of related industries. "Not long ago, Qingdao City issued a number of policies to further increase the investment in research and development of the whole society, and introduced a series of measures such as encouraging enterprises to increase their investment in research and development and supporting enterprises to carry out research and development activities. It is hoped that relevant departments will increase the publicity of policies so that more enterprises will know and understand the policies. The various rewards and subsidies involved in the policies should also be paid on time and in full, so that enterprises can truly enjoy the policy dividends." Sun Guomao said.

"Financial technology and new productivity have a natural fit. The widespread application of financial technology can release new financial momentum and play a huge role in promoting the transformation and upgrading of the financial industry. At present, Qingdao has shortcomings in the promotion of financial technology. Big data analysis and large model application are still insufficient. Leading enterprises and high-end platforms are relatively lacking, and the integration of science and technology industry and financial industry needs to be improved urgently." Chang Xin, member of the Municipal CPPCC and general manager of Qingdao Blue Ocean Equity Exchange Center, suggested that the government should focus on building a "thick foundation, wide coverage, and sustainable" financial talent system and increase the intensity of related talent training. At the same time, accelerate the construction of financial technology infrastructure, and cooperate with multiple parties to build credit information data platforms, financial technology enterprise incubation platforms, financial technology achievement transformation platforms and other facilities to consolidate the foundation of the cause.

Chang Xin, member of the Municipal CPPCC and general manager of Qingdao Blue Ocean Equity Exchange Center, spoke during the consultation.

Zou Chenyang, member of the Municipal CPPCC, chairman of Letong Capital Group, and president of Qingdao Hong Kong and Macao Innovation and Economic Development Promotion Association, has long been concerned about the global financial technology industry. She introduced that Hong Kong's financial technology industry is well developed and has a large number of open and international talents. The Hong Kong Monetary Authority established the Financial Technology Promotion Office in 2016 and issued a series of policies to promote the development of financial technology. "Qingdao should also develop financial technology with an open mind and mobilize all available resources. It is recommended that relevant departments strengthen foreign talent exchanges and cooperation, use international resources to cultivate and introduce high-level financial technology talents, and help the development of related industries in Qingdao." Zou Chenyang said.

Zou Chenyang, member of the Municipal CPPCC, chairman of Letong Capital Group and president of Qingdao Hong Kong and Macao Innovation and Economic Development Promotion Association, spoke during the consultation.

The suggestions of CPPCC members and experts and scholars received positive responses from relevant departments. Dong Baohua said that in the next step, the Financial Working Committee of the Municipal Party Committee will carefully study the opinions and suggestions of the members and experts, continue to do a good job in related work, and continuously promote the development of Qingdao's financial technology industry.