The "West Lake & Leman Lake" Finance and Technological Innovation Forum takes place in Hangzhou, Zhejiang province, Oct 22. [Photo/zjol.com.cn]

Economic and cultural exchanges between Hangzhou and Switzerland are expected to be boosted after the "West Lake & Leman Lake" Finance and Technological Innovation Forum, which was held in Hangzhou, Zhejiang province, Oct 22.

The annual event, held successively in Hangzhou and Geneva, is aimed at pushing forward financial cooperation, mergers and acquisitions between the two sides, as well as promoting more Zhejiang-based companies to "go global".

Over 400 invited representatives and leading officials in the financial and business sectors from China and Switzerland attended the event, including Stéphane Garelli, economics professor at Institute of Management Development (IMD) Lausanne and Jeremy Huff, managing director and chief operating officer of Morgan Stanley China.

In addressing the forum, Huff probed into the current and future investment opportunities in China and said he believed that consumption potential in China is on the rise with the development of e-commerce platforms and the changes in people's consumption habits.

He also noted that China is at the forefront of technological innovation, including artificial intelligence which can help slow down the aging of the labor force and increase productivity.

Apart from the main forum, there were also three sub-forums focusing on cross-border investments and mergers and acquisitions, opportunities in China, and the rise of innovative enterprises and wealth management.

In 2017, the added value of the financial industry in Hangzhou reached 105.4 billion yuan ($15.21 billion), ranking seventh nationwide.

Stéphane Garelli, economics professor at IMD, Lausanne, makes a keynote speech at the "West Lake & Leman Lake" Finance and Technological Innovation Forum in Hangzhou, Zhejiang province,  Oct 22. [Photo/zjol.com.cn]

Representatives and leading officials in the financial and business sectors from China and Switzerland attend the "West Lake & Leman Lake" Finance and Technological Innovation Forum in Hangzhou, Zhejiang province, Oct 22. [Photo/zjol.com.cn]