On May 25, 2016, the Astana Economic Forum (Astana Economic Forum) was held in Astana, the capital of Kazakhstan, and over 3000 delegates from the world attended the forum, including well-known politicians, international economists, Nobel Prize winners, heads of international organizations and representatives of major media. The forum centered on the topic of "new economic realities: diversification, innovation and knowledge economy" which was closely linked with the global changes of the current world. The development of a series of challenges in new economic realities, geopolitical, economic and financial system would determine the tendency of global changes.
Luo Feng (CEO of IZP) attended the forum and delivered a speech. At the same time, Nazarbayev, the President of Kazakhstan, Christine Lagarde, IMF head Christine Lagarde, Sir Suma Chakrabarti, the president of EBRD, Jeffrey Sachs who is the director of the Earth Institute at Columbia University and is ever rated as "one of the world's most influential economists" by the Economist, Daron Acemoglu who is an economics professor in MIT as well as a best-selling author, Roberto Azevedo, the Director-General of WTO also participated in the activities of the Astana Economic Forum.
Luo Feng, the chairman of the board, said in his speech "Fintech creates a new model of cross-border clearing and settlement," The IBS owned by the IZP would establish a trade settlement center for central Asia and CIS regions in Kazakhstan, build up a decentralized cross-border settlement platform adopting the technology of block chain and provide direct clearing and settlement services to the transactions between such countries and China instead of relying on dollar, and all of which would improve the convenience and security of cross-border trade settlement and dramatically reduce the cost and time of cross-border settlement. IBS will arrange top 5 regional settlement circles in Central Asia, Europe, Middle East, Africa and South Asia, establish a direct clearing and settlement channel of RMB, constitute a set of new technological financial settlement system that carries the cross-border trade and consumption settlement between China and these regions, countries of these regions or among these regions. IBS Central Asia Settlement Circle will be deployed in the Astana International Financial Center, which takes Kazakhstan as the center, expands its influence to the neighboring countries and provides settlement services for the transactions between countries in the Central Asia and China or among countries in the Central Asia.
Kazakhstan is the starting country of Chinese "OBOR", the largest and most developed country in the Central Asia, as well as a major exporting country of resources and energy. The AIFC in Kazakhstan named as "a state within a state" is a special economic zone which was written into the national constitution. This special zone applying English legal system and incentive policies aims at establishing a financial center which is comparable with the City of London in the Eurasia. IZP Group and AIFC will focus on the cooperation and construction in three fields: Firstly, IBS trade clearing and settlement center, secondly, cooperation in constructing the Central Asia Big Data Center; thirdly, cooperation in constructing the Central Asia Commodity Exchange. IZP is actively engaged in the implementation of Chinese "OBOR", and jointly build Kazakhstan into a trade and financial center for the whole central Asia with all sides, promote Kazakhstan trade and financial activities with China, Central Asia and even the world. At the same time, it will make continuous contributions to further strengthening the Sino-Kazak comprehensive strategic partnership and deepening the practical cooperation between both countries.
After the meeting, Luo Feng, the chairman of the board attended the welcome banquet held for the Prime Minister of Kazakhstan Karim Masimov.
