The Business and Finance Bureau of Beijing E-Town issued a notice on demand redemption declaration work for the 12 measures for industrial finance in 2023 on Feb 27. 

The demand redemption officially began from that day. It aims to promote the construction of a characteristic financial supply centered around industrial finance. The deadline for the declaration work is Mar 5.

The "12 measures for industrial finance" were officially introduced last March, covering six areas supporting the establishment of industrial financial institutions. 

One-third of the policies focused on investment institutions, providing policy support in various stages of the investment process, such as implementation, project introduction, and team support, effectively enhancing the attractiveness of Beijing E-Town to investors.

What are the requirements and standards for the declaration? What is its scope?

The notice states that the applying institutions need to be approved by the State Council and the national financial regulatory authorities, as well as the Beijing Municipal Local Financial Supervision and Administration Bureau. 

They should also be registered for tax and statistics in Beijing E-Town. Furthermore, the institutions should not have committed any significant administrative or criminal violations in 2022 and 2023.

The scope of the declaration is extensive, involving licensed legal entities in Beijing E-Town such as banks, securities, and insurance institutions, as well as local financial organizations such as financing lease, commercial factoring, and financing guarantee companies. 

It is important to note that the relevant applying institutions need to meet specific requirements. 

For instance, banks (including their subsidiary companies in asset management and fintech), securities, and insurance institutions need to have registered in Beijing E-Town with a paid-up capital of over 100 million yuan in 2022, or an increased paid-up capital of over 100 million yuan ($14.49 million). They must have established a first-tier branch of a bank or   securities and insurance companies registered in the area, or have established a newly upgraded second-tier branch of a bank in 2022.

The applying institutions can refer to the policy interpretation of the "12 measures for industrial finance" published on the official website of Beijing E-Town. Materials should be submitted to lirongchen@bda.gov.cn. Failure to submit the form before the deadline will be considered as having no demand. Contact number: 010-67886597.