Eurasian Financial and Economic Forum in Shanghai: New Vectors of Strategic Partnership
From April 16 to April 19, 2025, the Eurasian Financial and Economic Forum (EFEF-2025) was held in Shanghai for the first time, becoming a milestone event in the development of multilateral cooperation between the countries of the Eurasian region. The forum was organized by the Financial and Business Association of Euro-Asian Cooperation (FBA EAC), the Russian Union of Industrialists and Entrepreneurs (RSPP), the Association of Banks of Russia and the China International Investment Promotion Association, with the support of local government authorities and Xinhua News Agency.
The EFEF-2025 brought together more than 300 participants from the government, financial, technological and cultural circles of Europe and Asia and became a platform for discussing topical issues of Eurasian cooperation: from finance to cultural dialogue, from investments in industry to technological innovations.
The opening ceremony of the forum was held in the Friendship Hall of the Shanghai Exhibition Centre. The participants were welcomed by representatives of the organizers, after which a procedure of signing the forum's commemorative book was organized for all the participants of the event. Mr. Alexander Shokhin, President of the Russian Union of Industrialists and Entrepreneurs, and Mr. Li Shuobing, President of the FBA EAC, left their autographs as key organizers.
As part of the EFEF-2025 business program, four thematic sessions were held to address topical issues of economic interaction.
At the Finance and Credit session, participants discussed the prospects for the introduction of central bank digital currencies, the use of blockchain technologies in international settlements, and the development of common standards for credit and financial services. Special attention was paid to cybersecurity and building trustworthy cooperation between financial institutions.
Yana Epifanova, Vice-President of the Association of Banks of Russia, Angelina Akimenko, Director for promising financial technologies at the Russian Export Center, Marat Baitokov, First Vice-President and Chairman of the Executive Committee of the Association of Banks of the Republic of Kazakhstan, Alexey Kazartsev, Chairman of the FBA EAC International Banking Committee, and other speakers discussed strategies of innovative cooperation that could give a new impetus to the development of the credit and financial system of the Eurasian economic partnership.
At the Industrial Investment session, representatives of business circles and government agencies from the Eurasian region shared their experience in implementing joint projects in transport logistics as well as in the energy and auto industries. Chinese companies, such as China FAW Group, presented successful cases of industrial partnership.
Mr. Zhao Fei, Head of Shanyang County, made a presentation on the investment potential of Jinshan District; the reports of Andrey Lotsmanov, Deputy Chairman of the RSPP Committee on Technical Regulation, and Anton Vasilyev, member of the FBA EAC and CEO of Sparta OOO, were devoted to cooperation in the auto industry as well as in the field of infrastructure and investment. Speakers and participants unanimously concluded that deepening cooperation between China and Eurasian countries requires not only investment, but also joint efforts in standardization, introduction of innovations and infrastructure development.
At the Technological Innovations session, experts noted the growing role of AI in various sectors of the economy. The participants – among them Alexander Melerzanov, Dean of the Faculty of Biological and Medical Physics at Moscow Institute of Physics and Technology – discussed the prospects for creating joint research programs and funding mechanisms for breakthrough developments.
Yulia Andreeva, Head of the Center for Educational Innovations and Technologies at MIPT's Institute of Future Biophysics, spoke about how artificial intelligence is changing education. Chinese colleagues, including Ms. Wang Xia, Head of the Association for the Promotion of Science and Technology Industrialization, shared cases of AI implementation in medicine – for example, the systems used by 80% of clinics in China. The participants – among them Ms. Hu Xiao, Marketing Director of Chengdu Clonorgan Biotechnology – also discussed the development of an industrial model of xenotransplantology.
The Cultural Dialogue session included the discussion of projects in education, culture, tourism and historical heritage preservation.
Professor Zhang Yu, Head of the Hero Culture Foundation at Tsinghua University, Tudor Afanasov, Head of the FBA EAC Representative Office in Romania, and Ivan Arkhipov, member of the Russian-Chinese Friendship Society, made presentations on the development of cooperation between the countries of the Eurasian region on the basis of common historical heritage, paying attention to joint projects in the field of culture.
The attention of the participants was drawn to the presentation by the world opera star Lyubov Kazarnovskaya, who emphasized the great role of musical culture and art for the prosperity of Russia and China. She noted that culture is not only the basis for spiritual development, but also a powerful tool to support diplomatic and friendly relations between the countries. In the course of her speech Lyubov Kazarnovskaya talked about her project “Young Opera of Russia”, which is successfully touring in Russia and the CIS countries and shared her plans to integrate China into the project.
The speakers' presentations proved once again: cultural dialogue is an investment in the future. Mutual understanding in the cultural sphere contributes to building trust and bringing peoples together, laying a solid foundation for cooperation between the countries of Eurasia.
The XXI meeting of the International Banking Council dedicated to the digitalization of payment systems and the development of fintech solutions was also held as part of the EFEF-2025. The event was moderated by Alexander Murychev, Chairman of the FBA EAC Board. The meeting became a unique platform for the dialogue between the leading financial institutions of Eurasia and brought together representatives of the Association of Banks of Azerbaijan, Association of Belarusian Banks, Association of Banks of the Republic of Kazakhstan, Union of Banks of Kyrgyzstan, Association of Banks of Russia, Association of Banks of Tajikistan, Association of Banks of Uzbekistan, FBA EAC, CIS Financial and Banking Council. The event was also attended by the Trade Representation of Russia in the PRC and the Shanghai Public Diplomacy Association.
The key final event of the forum was the plenary session chaired by Alexey Gromyko, Director of the Institute of Europe of the Russian Academy of Sciences, and Mr. Li Shuobing, President of FBA EAC.
In his speech, Mr. Li Shuobing stressed:
‘The Eurasian Financial and Economic Forum in Shanghai was a vivid confirmation that our cooperation is not just an exchange of ideas, but a powerful engine of progress. Today, more than ever, it is important to join forces: together we can create transparent financial systems, introduce advanced technologies and build the infrastructure of the future. But most importantly, it is through partnership that we build trust between countries, open new markets and lay a solid foundation for the sustainable development of the entire Eurasian space. Only together can we respond to the global challenges and turn common goals into real achievements.’
The plenary session included keynote speeches by Alexander Shokhin, President of RSPP, Ms. Zhou Xiaoyan, Executive Vice-President and Secretary General of the China International Investment Promotion Association, and Anna Bezdudnaya, Editor-in-Chief of the FBA EAC Herald.
They were joined by other honorable speakers of the meeting, which stressed the significance of the forum as an important platform for dialogue and the development of strategic solutions. In his speech, Alexander Murychev, Chairman of the FBA EAC Board, Vice-President of RSPP, summarized the results of the fruitful work over the past days of the forum, highlighting the key achievements and outlining promising areas for further work.
Following the results of work, the participants adopted a joint declaration, which consolidated the main directions of further cooperation. Margarita Fedotova, Executive Director of FBA EAC, and Mr. Liu Zihua, Secretary of the Komsomol Committee of Xinhua News Agency, announced the signing of this document. An agreement was reached to hold the forum on a regular basis with the expansion of participation.
On the final day of the EFEF-2025, a reception in honor of the forum participants was held, during which artists from the People's Republic of China as well as opera singer Lyubov Kazarnovskaya with the participants of the “Young Opera of Russia” project performed a cultural program.
The Eurasian Financial and Economic Forum in Shanghai has confirmed its status of an important platform for developing strategic solutions and strengthening partnerships between the countries of the region. Holding the event on a regular basis will contribute to the further integration of the economic spaces of Europe and Asia.
