On August 6,2019, BIFNC was inaugurated in Shenzhen. The communications departments of China, Cambodia, Egypt, Laos, Russia, South Africa, the Philippines and other BRICS countries and other developing countries, and the International Telecommunication Union, the Global Association of Mobile Communication Systems and other international organizations attended the meeting.

BIFNC will make full use of both international and domestic markets and two kinds of resources, and rely on the advantages of Shenzhen in terms of policy, capital, technology and industrial clusters, and the comprehensive advantages of the national government think tank of the China Information and Communication Research Institute. China will promote practical cooperation with BRICS and other developing countries on future cyber technology innovation, policy research, industrial promotion, international cooperation and personnel training.