Policies and measures of Huangpu district to promote the development of the financial industry

The policies apply to registered institutions and individuals or operating financial businesses in Huangpu district, Guangzhou Development District and its affiliated industrial parks.

Article I

Project settlement award

The settlement award for newly registered or settled down financial institutions is determined according to the scale of paid-in capital. If the paid-in capital is 2 billion yuan($283.87 million) or above, the settlement award shall be 30 million yuan; if the paid-in capital is between 1 billion yuan and 2 billion yuan, the award shall be 20 million yuan; if the paid-in capital is between 500 million yuan and 1 billion yuan, the award shall be 15 million yuan; if the paid-in capital is between 200 million yuan and 500 million yuan, the award shall be 10 million yuan; if the paid-in capital is between 100 million yuan and 200 million yuan 100 million yuan, the award shall be 8 million yuan; if the paid-in capital is between 50 million yuan and 100 million yuan, the award shall be 5 million yuan. Priority will be given to industrial land use.

Besides settlement awards, newly-settled headquarters of financial institutions will be given a relocation cost subsidy. Each enterprise can receive a maximum subsidy of 50 million yuan as a settlement award and relocation cost.

Newly established or newly relocated banks or securities companies, and their first level branches, will be awarded 3 million yuan. Other first-level branches of financial institutions will be given settlement awards of 1 million yuan. The newly established or newly relocated national financial market trading platform will be given settlement awards of 20 million yuan. First-level branch institutions of regional financial market trading platforms and national financial market trading platforms will be given settlement awards of 10 million yuan.

Financial corporation holding companies, or groups with more than one newly-held financial institution, will be given an award of 20 percent in accordance with the above standard regarding the paid-in capital of the holding financial institution.

Such companies will be given a 50 percent matching award for financial and scientific and technological projects supported by Guangzhou's financial and technological supporting policies.

Article II

Business contribution reward

Newly-established or newly-settled financial institutions can be given a business contribution award for five consecutive years. The award for the first three years is given to encourage financial institutions which have made a 100 percent contribution to the local economy.

Financial institutions or projects supported by policies of inclusive finance, green finance and rural finance are eligible for a 50 percent of capital award.

Article III

Senior executive and talent reward

If a financial institution wins a project settlement award and business contribution reward, it can pay no more than 50 percent of the award to senior executives and talents.

Financial executives and financial professionals who have an annual taxable income of 300,000 yuan or more shall be awarded based on 40 percent of their contribution to the local economy in this area.

Financial leading talents, senior financial management talents and senior financial professionals who have been supported by the policies related to the high-level financial talent supporting projects in Guangzhou will be rewarded with 50 percent of the award amount.

Article IV

Development reward

Financial institutions that increase their paid-in capital by 3 billion yuan or more will be awarded 10 million yuan; those that increase it by between 2 billion and 3 billion yuan will be awarded 8 million yuan; those that increase it by between 1 billion and 2 billion yuan will be awarded 4 million yuan; those that increase it by between 500 million and 1 billion yuan will be awarded 2 million yuan; those that increase it by between 200 million and 500 million yuan will be awarded 1 million yuan; those that increase it by between 100 million and 200 million yuan above will be awarded 500,000 yuan.

Financial institutions registered in the district that are ranked as a Top 500 enterprise in the world for the first time will be awarded 20 million yuan; those ranked as a Top 1000 enterprise in the world or a Top 500 enterprise in China will be awarded 10 million yuan.

Article V

Emerging finance award

Micro-finance companies that provide micro-credit business for enterprises in the district may be awarded 0.5 percent of the actual loan disbursements that they provide to the enterprises. The maximum reward for each micro-loan enterprise is 2 million yuan per year.

Financing guarantee companies that provide financing guarantees for enterprises in this district where the average guarantee rate for the previous year did not exceed 50 percent of the benchmark interest rate on bank loans for the same period may be awarded up to 1 percent of the amount of the guarantees made to the enterprises in this district. The maximum annual reward for each financing guarantee company is 2 million yuan.

Financial leasing companies providing financial leasing business to the enterprises in this district shall be awarded at a rate not higher than 0.5 percent of the actual transaction contract value carried out by the enterprises in this district. The maximum annual award for each financing guarantee company is 2 million yuan.

Commercial factoring companies providing commercial factoring business to the enterprises in the district shall be awarded at a rate not higher than 1 percent of the actual transaction contract value carried out by the enterprises in the district. The maximum annual award for each commercial factoring company is 2 million yuan.

Article VI

Financial innovation award

The policy encourages financial institutions to strengthen financial support of the real economy. The annual award shall be given to innovative and influential financial institutions that service the real economy. The annual total amount of financial services real economic awards should be limited to 10 million yuan. The specific measures should be formulated separately.

Financial industry associations and other organizations registered in the district and approved by the financial administrative department of the district shall be given maximum subsidies of 300,000 yuan for carrying out relevant events and activities of financial innovation and providing development and financial services for the real economy.

High-level events such as financial forums held by financial institutions, industry associations and professional institutions shall be given the maximum subsidy of 3 million yuan.

Article VII

Acquisition and reorganization award

Financial institutions or projects supported by policies of acquisition and reorganization should be awarded 50 percent of the maximum award amount.

The M & A holding listed enterprises, enterprises listed on the New Over the Counter Market and high-tech enterprises above scale that are settled down in the district shall be respectively given maximum awards of 3 million yuan,500,000 yuan and 500,000 yuan.

Listed enterprises in the district, enterprises on the New over the Counter Market and listed enterprises in the Guangdong Stock Exchange Center can be given 50 percent of the subsidies for intermediary service cost in legal and financial cases. Single projects can be given maximum subsidies of 500,000 yuan and each enterprise can annually get a maximum subsidy of 2 million yuan.

Article VIII

Capital market awards

Enterprises listed in domestic and foreign capital markets shall be awarded a total amount of 6 million yuan by stages. Newly registered listed enterprises in the district also shall be awarded in accordance with this standard. Enterprises listed on the New over the Counter Market and top-level enterprises shall be awarded 1 million yuan and 500,000 respectively. The listed enterprises and the enterprises listed on the New over the Counter Market raising financing by increasing issues in stocks and rights shall be given maximum awards of 1 million yuan and 200,000 yuan respectively.

The joint-stock enterprises listed on the Guangdong Equity Exchange and China securities quotation private equity market shall respectively be awarded 300,000 yuan. Limited companies listed on the Guangdong Equity Exchange shall be awarded 15,000 yuan. Enterprises listed on the Guangdong Equity Exchange that have financed successfully by private equity can be awarded 1 percent of the financing amount, which means an annual maximum award of 200,000 yuan. Enterprise that carry out equity pledge financing on the Guangdong Equity Exchange and have more than 3 million yuan in financing, including debt financing, shall be given a subsidy of 2 percent of the financing amount, with a maximum subsidy of 100,000 yuan per year. If the enterprise carrying out equity pledge financing at the Guangdong Equity Exchange Center receives more than 3 million yuan in debt financing, it shall be given a subsidy of 2 percent of the financing amount, with a maximum subsidy of 100,000 yuan per year.

For enterprises in the region financing through the issuance of bonds, if the financing amount within the bond life is less than 100 million yuan, the discount rate shall be 10 percent of the actual interest amount; if the financing amount is between 100 million yuan and 500 million yuan (inclusive), the discount rate shall be 8 percent of the actual interest amount; if the financing amount is between 500 million yuan and 1 billion yuan (inclusive), the discount rate shall be 5 percent of the actual interest amount, and if the amount is more than 1 billion yuan the discount rate shall be 1 percent of the actual interest amount.

Private equity investment management enterprises that meet the conditions shall be awarded at 25 percent of their contribution to the local economy in the region in that year, with a maximum annual award of 20 million yuan for each institution.

An investment promotion unit that introduces an enterprise which is subsequently successfully listed on the market can be awarded 500,000 yuan; an investment promotion unit that directly introduces an already-listed enterprise can be awarded 1 million yuan.

Article IX

Site subsidy award

Newly registered or newly relocated financial institutions that rent office space for their own use in the district shall be given a venue subsidy of 50 yuan per square meter per month for a period of three years, with a maximum subsidy of 3 million yuan per year. The subsidy for office space for financial institutions shall not exceed the actual expenditure of the enterprise.

Newly registered or newly relocated financial institutions that purchase office buildings in the district for self use, shall be given a subsidy of 10 percent of the purchase price, to a maximum of 10 million yuan. The office building purchase subsidy for those financial institutions shall not exceed the actual expenditure of the enterprise, and the office space for which the subsidy shall be granted shall not be rented and sold to the outside world within five years.

Newly registered or newly relocated private equity investment management enterprises renting office space for their own use shall be given a venue subsidy according to the standard of 50 yuan per square meter per month for a subsidy period of three years, with a maximum subsidy area of 1,000 square meters per organization.

Article X

Major financial institutions making great contribution to the local economy shall be given key support approved by the government and the administrative committee of the economic and development zone.

If the same project or the same matter meets the provisions of this policy as well as those of any other policy, the no-repeat principle shall be followed so that the project or matter shall enjoy the benefit of that other policy.

The policy is valid for five years from the date of its release. At the end of the period of validity or in the event of changes in the basis of the relevant legal policy, it will be assessed and subject to suitable revisions.

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