Financial innovation awards for 58 companies

The Shanghai Financial Innovation Award 2018 has honored 58 programs out of 135 on a shortlist.

One special award was for innovative financial programs making a great contribution to Shanghai finance.

There were four first prizes, 13 second prizes, 20 third prizes and 20 nomination prizes.

All 58 programs were helping to improve the financial market system and accelerating the preliminary construction of a financial center by the end of 2020.

They also serve the country’s high-level opening-up by responding to national strategies, focusing on fintech application and enhancing financial products with consideration to private, small and micro-businesses.

The special award went to the launch of China’s crude oil futures by Shanghai International Energy Exchange Co Ltd, a subsidiary of the Shanghai Futures Exchange. This program renders crude oil futures in China to be the first globalized futures open to world investors.

Two second prizes went to programs related to the China International Import Expo — the integrated financial services program for CIIE from Bank of China, Shanghai, and the P&C insurance package for the first CIIE from China Pacific Property Insurance Co Ltd.

Xie Dong, director of Shanghai Financial Work Bureau, said the Shanghai Financial Innovation Award is not only given for innovative programs, but also and especially for guiding the innovative development of financial sector.