The Global Fintech Innovation Summit, Money 20/20, is held in Hangzhou International Expo Center, Zhejiang province, on Nov 14. [Photo/zjol.com.cn]

Visionaries and innovators from across the entire spectrum of payment, fintech and financial services gathered in Hangzhou, Zhejiang province, for the Money 20/20, the world's biggest payment and financial service innovation conference, on Nov 14.

Being held in Las Vegas, Amsterdam and Singapore, this marks the very first time that the summit has been held in China.

IBM, together with other industrial giants from 40 countries around the world, including Tencent, LianLian Pay, Deloitte, JP Morgan were invited to discuss global fintech ecosystems and share industrial insights at the three-day event.

Key topics covered include payment, block chain, banking, entrepreneurship, and investment, amongst others.

Rajesh Agrawal, deputy mayor of London makes a keynote speech at the Global Fintech Innovation Summit in Hangzhou International Expo Center, Zhejiang province, on Nov 14. [Photo/zjol.com.cn]

Speaking at the conference, Rajesh Agrawal, deputy mayor of London, believed that the Yangtze River metropolis shares many similarities with London, possessing a wide range of talent resources and top-notch high technologies.

He hoped that Hangzhou and London could push ahead with cooperation and bring win-win outcomes for both China and the United Kingdom.

Home to China's financial giants including Alibaba, Ant Financial and NetEase, Hangzhou is at the heart of China's finance technology industry and among the widely covered in terms of the fintech consumer experience, with about 91.5 percent of the city's population using fintech products and services, according to the Global Fintech Hub Index 2018.

In 2017, the added value of Hangzhou's financial industry reached 105.4 billion yuan ($15.20 billion), accounting for 8.4 percent of the city's GDP.

Founded in 2011, Money 20/20 is the world's largest payments and financial service event with participants of cutting-edge companies including Google, IBM and VISA.

Participants of the summit hold conversations with each other at the Global Fintech Innovation Summit in Hangzhou International Expo Center, Zhejiang province, on Nov 14. [Photo/zjol.com.cn]