Wuhan Economic & Technological Development Zone (WHDZ) in Wuhan, Central China's Hubei province, is to further boost the development of its financial sector using settlement rewards of up to 100 million yuan ($15.48 million), according to local media reports.
In addition, an office housing subsidy of up to 10 million yuan will be given to financial institutions which settle in the development zone.
For funds registered and taxed in WHDZ and their management agencies, a maximum of 15 million yuan will be awarded according to the scale of the new fund. When the fund invests in major projects, the regional government guidance fund can arrange financial support of up to 50 percent of the fund's investment.
A maximum of 10 million yuan will be awarded to equity investment institutions investing in enterprises and investment promotion projects in the development zone.
Up to 9 million yuan will be awarded to enterprises in WHDZ that are listed on the domestic market. Up to 8 million yuan will be given to local enterprises that are listed on overseas capital markets.
So far, WHDZ has introduced a total of 84 fund partnerships and fund management companies. Among them, there are 49 fund partnerships with a scale of approximately 34.4 billion yuan, and 35 fund management companies.
