THE Europe China Fintech Summit was held virtually Friday to promote digital economy ties between China and Europe.

A screenshot of the schedule of the online Europe China Fintech Summit. Photos by China News Service

The summit, jointly organized by ChinaEU and China Chamber of Commerce to the EU (CCCEU), gathered people from political and business circles in China and Europe, as well as innovative talents, experts and scholars to share their visions on topics such as China-Europe fintech policies, fintech practices and financial innovation prospects.

Viviane Reding, former vice president of the European Commission, delivers a speech at the Europe China Fintech Summit via video link Friday.

Viviane Reding, former vice president of the European Commission, said that the rise of fintech has enabled many startups and large tech companies to enter the financial service industry and to become new market competitors who disrupted traditional financial models and brought in profound impacts, such as promoting the development of a cashless society, digital currencies and cross-border payments.

Peng Gang, minister of the Chinese Mission to the EU, speaks via video conferencing at the Europe China Fintech Summit on Friday.

Peng Gang, minister of the Chinese Mission to the EU, said in a keynote speech that strengthening China-Europe financial innovation and cooperation and promoting China-Europe economic and trade development are in the common interests of China and Europe, which is also conducive to promoting the healthy development of the global financial system.