RESTRICTED  
  
S/FIN/W/94 
 
15 October  2019 
(19-6705) Page: 1/2 
Committee on Trade in Financial Services   Original: English  
 
COMMUNICATION FROM  CHINA  
PROPOSAL FOR A THEMA TIC SEMINAR  
- FINTECH: TRADE, FI NANCIAL INCLUSION AN D DEVELOPMENT -  
 
The following communication, date d 11 October 2019, is being circulated to Members of the 
Committee on Trade in Financial Services, at the request of the delegation o f China.  
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Emerging technologies in the financial sector ( so-called "Fin Tech") are transforming the supply  
of financial services. These developments bring both oppor tunities and challenges for consumers, 
service providers and regulators alike.   
In keeping with the Committee's mandate "to provide a forum for technical discussions, to 
conduct studies on measures of Members and to conduct examinations of any other techni cal matters 
affecting trade in [financial] services"1, we believe that the Committee is the appropriate forum to 
review these developments and discuss their impact on trade in financial services. We are convinced 
that all Members stand to benefit from such a discussion.  
Building on the previous work conducted at the Committee on technological developments and 
financial inclusion, we propose that the Committee organizes a thematic seminar on "Fin Tech: Trade, 
Financial Inclusion and Development", with a v iew to increasing Members ' understanding of Fin Tech 
and its effect on trade in financial services, financial inclusion and development. The proposed 
programme of the seminar is attached to this communication.  Presentations would be made by 
national regulat ors, private sector representatives and international officials from relevant 
international organizations.  
We look forward to working with the Secretariat and other Members to develop a  program of 
interest to all Members.  
  
                                                
1 Decision on Institutional Arrangements  for the General Agreement on Trade in Services  (S/L/1, 
4 April 1995).  S/FIN/W/94  
 
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  ANNEX  
 
FINTECH : TRADE, FINANCIA L INCLUSION AND DEVE LOPMENT  
GENEVA, DATE TBC  
PROPOSED PROGRAMME  
 
 
MORNING  
Financial services in the digital age  
Emerging technologies in the financial sector – generally known as FinTech – are d riving 
transformational change in the supply  of financial services in such areas as payments, financing, 
investments, financial information and advice, and asset management. These developments bring 
both opportunities and challenges . This session will set the scene and provide an overview of 
FinTech. Presentations will discuss the most recent developments, providing an introduction to the 
business, technological, regulatory and policy aspects involved.  Presentations will be made by 
international experts and  organizations with relevant expertise in FinTech. 
 
E-payments enabling cross -border e -commerce  
FinTech has had a pronounced impact on the payments industry. This session will zoom in on e -
payment services, through presentations by relevant private sector representatives. It will discuss, 
mainly from a business perspective, how digital technology has been leveraged to provide innovative 
e-payment solutions and their impact on cross -border e -commerce.  
 
 
 
AFTERNOON  
Digital financial inclusion in develo ping an d least -developed countries  
Financial inclusion contributes to economic development and growth. In developing countries, 
technology has been playing an important role in expanding access to banking, insurance and 
financial services for all. This session will focus on developing countries' experiences in advancing 
financial inclusion, through presentations by a mix of national regulators and service suppliers 
(e.g. M-Pesa).  
 
FinTech, trade in financial services and regulation  
This session will focus on the interplay between Fin Tech, trade in financial services and financial 
regulation and related question such as:  
  
• What are the implications of FinTech for trade in financial services?  
• How may trade in financial services foster digital financial inclusion ? 
• How should policy and regulation respond to this fast -changing development?  
 
Not least, t his session will consider how trade in financial services may help promote innovation and 
financial inclusion, and how regulation can mitigate potential risks to fin ancial stability and integrity 
without stifling innovation and impairing trade. Presentations will be made by national regulators 
and/or trade negotiators, as well as representatives from relevant international organizations.  
 
 
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