SMM News: September 7, Beijing Xicheng District Financial Street, "Jinkai Ten articles" new policy released, it is clear that the country will fully undertake the task of financial reform and opening up. In order to attract financial institutions to settle in, qualified enterprises will receive a subsidy of 50 million yuan; in order to attract outstanding financial talents, Xicheng will integrate public resources in the region to provide them with services such as medical treatment, school attendance, residence and hukou.
It is reported that in the first half of this year, the added value of the financial industry in Financial Street reached 128.56 billion yuan, an increase of 4.7 percent, accounting for 54.2 percent of the GDP of Xicheng District and 37.4 percent of the added value of the financial industry in Beijing.
Sun Shuo, mayor of Xicheng District, said that Financial Street will fully undertake the task of national financial reform and opening up. We will support various types of foreign-funded institutions, such as banks, securities, insurance, funds, futures, trusts and wealth management, to initiate or participate in the establishment of financial institutions in the financial street and invest in financial institutions stationed in the district. Foreign and export-oriented financial institutions stationed in the region are encouraged to fully participate in the comprehensive pilot of the country's financial opening up and Beijing's service industry opening up, so as to provide a good service guarantee for the financial opening up related measures to take the lead in setting up the financial street.
Sun Shuo said that for newly established corporate financial institutions in Xicheng District, according to the scale of paid-in capital, the maximum one-time subsidy will be 50 million yuan, and the one-time maximum subsidy for capital increase of financial institutions will be 20 million yuan.
Financial institutions and financial institutions newly immigrated to Beijing and registered in Xicheng District will merge and reorganize financial institutions outside Xicheng District, and shall be given corresponding subsidies with reference to one-off subsidies; in terms of guiding angel investment, venture capital and equity investment to participate in the construction of a "sophisticated" economic structure, a maximum of 15 million yuan will be given in stages according to its actual investment scale. In terms of reducing the operating costs of newly established or newly moved-in financial institutions, financial subsidies shall be given to newly established or newly moved-in financial institutions for newly purchased or leased office space for their own use. For those who buy office space, there will be a subsidy of 1500 yuan per square meter; for those who rent office space, they will be subsidized at 50% of the current year's rent in each of the first three years.
Financial science and technology enterprises stationed in the financial science and technology and professional demonstration zone in Beijing have set up actual registration subsidies, rent subsidies for three consecutive years, and financial support for listing, with a maximum subsidy of 50 million yuan. At the same time, a Beijing financial technology industry investment fund has also been set up. We will provide up to 10 million yuan in support for carrying out major projects for the transformation and industrialization of underlying key technologies, establishing research and development institutions, leading and participating in the formulation of international and national technical standards, and encourage the establishment of a "Chinese standard" system. A maximum of 10 million yuan will be given to cutting-edge technological innovations such as artificial intelligence, blockchain, quantitative investment and intelligent finance.
In addition, in order to attract outstanding financial talents, financial incentives and comprehensive service support will be given to senior managers and core business backbones of key financial institutions. Develop service products such as talent apartments, educational development, health care, cultural experience, business travel services, ecological life, etc., to form a diversified, optional and flexible comprehensive support plan to meet the needs of financial institutions, talent personalization and high-end services. We will integrate public resources in the region and provide comprehensive, high-quality and efficient services for excellent financial talents, such as medical treatment, children's school attendance, residence, hukou, work permit processing, and so on.
It is understood that at present, more than 1800 financial institutions of various types are gathered in the Financial Street area, with assets reaching 115 trillion yuan, accounting for more than 1/3 of the assets of financial institutions nationwide.
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