Huangpu, GDD boost financial industry through policy measures

Guangzhou's Huangpu district and the Guangzhou Development District released a group of policy measures to promote the financial industry on July 18.

On the same day, a financial innovation service platform was launched to help docking of private sci-tech small and medium-sized companies with comprehensive financial services.

The measures were drafted in line with a governmental notice on facilitating Guangzhou's development into a regional financial center, in particular as regards beneficiaries and standards of support.

Financial institutions in the district will be given support ranging from project settlement and business expansion to mergers and acquisitions and premise purchases.

According to the policies, financial institutions setting up headquarter in the district will be rewarded with up to nearly 100 million yuan ($14.52 million).

In addition, the district will subsidize the operation, senior executive talents and premises of financial institutions.

Rewards will also go to those enterprises that get financing through various channels or are listed on the Guangdong Equity Exchange or the National Equities Exchange and Quotations, also known as the "new third board," or domestic and foreign exchanges.

Enterprises that get refinancing after listing, issue bonds, or conduct mergers and acquisitions will receive up to 10 million yuan from the district.

Share - WeChat