Swift has confirmed that more Chinese banks have pulled out of its annual Sibos trade show, starting next week in Osaka, Japan. China Citic Bank, Baoshang Bank and Bank of Inner Mongolia have all said that they will not now be attending the trade show, joining earlier withdrawals that included ICBC.
The Sibos financial services conference and exhibition, which runs from 29 October to 1 November in Osaka, Japan, has already suffered from a boycott by certain Chinese banks due to the on-going political row between Japan and China over the sovereignty of the disputed Senkaku / Diaoyu islands in the East China Sea. This latest escalation is due to same on-going row.
Earlier this month, Swift reported that the Industrial and Commercial Bank of China (ICBC), Agricultural Bank of China and Bank of China had withdrawn all their speakers and delegates from Sibos 2012, while still claiming that registrations for the event were still ahead of target. Traditionally, Asian Sibos shows attract less visitors than the European or North Amercian shows, with the continent's sharing the event on a tri-annual basis in the past, although interesingly Sibos is not set to return to the troubled European region until 2016 at the earliest with the next shows planned for Dubai and Boston.