BEIJING -- Beijing will play host city to the Swift International Banker's Operation Seminar (Sibos) financial services forum in 2024, according to a joint announcement from Beijing authorities and the Society for Worldwide Interbank Financial Telecommunication (SWIFT).

The annual conference is scheduled to run from Oct 21 to 24, 2024, at the China National Convention Center.

The Beijing Municipal Bureau of Local Financial Regulation and Supervision said the forum's presence in Beijing will be an important milestone in the opening-up of China's financial industry. It will promote communication between China and international financial institutions, and drive the financial digital transformation, thus enabling China to contribute to the development of the global financial industry.

Sibos has had 44 sessions since 1978. The meetings have been attended each year by 7,000 to 9,000 financial executives and experts from more than 150 countries and regions.

Beijing's total financial assets have exceeded 190 trillion yuan ($27.7 trillion), accounting for about half of the country's total, while the value-added output of its financial industry accounts for nearly one-fifth of its GDP.