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Xicheng District People's Government of Beijing Municipality

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Guidelines on Accelerating the Development of Modern Financial Industry in Xicheng District of Beijing

In order to actively promote the development of modern financial industry in line with the strategic positioning of the capital city, further optimize the layout of financial industry, promote the high-quality development of the capital economy, and serve the construction of the National Financial Management Center of the Financial Street, the following suggestions are formulated in light of the actual situation.

1.        Establish a clear orientation for the high-quality development of the National Financial Management Center.

a)        Support licensed financial institutions, financial holding groups, large-scale enterprise capital holding companies, corporate fund companies, international financial organizations, national financial industry associations, financial infrastructure platforms, bank card clearing institutions, key factor markets and other institutions that have been approved or established to reflect the functions of the National Financial Management Center, registered in Xicheng District, as well as the development of subsidiaries with financial attributes derived from the above-mentioned organizations.

b)       Support the development of angel investment, venture capital, equity investment and other institutions that have been audited and filed to serve the development of "top-notch" industries.

c)        Other financial institutions that play an active role in serving the construction of the National Financial Management Center can be referred to and implemented after approval by the Xicheng District Government.

2.        Strengthen the training support for the whole process of the establishment, development and growth of financial institutions.

a)        The newly established legal person financial institutions in Xicheng District shall be given a one-time start-up cost subsidy according to their comprehensive contributions. Specifically, according to the scale of paid-in capital, for 100 million yuan (including) -500 million yuan, the subsidy is 5 million yuan. For 500 million yuan (including) -100 million yuan, the subsidy is 10 million yuan. For 1 billion yuan (including) - 3 billion yuan, the subsidy is 20 million yuan, and for 3 billion yuan (including) or more, the subsidy is 50 million yuan. For financial institutions which have been set up whose paid in capital is increased by 1 billion yuan (including) to 10 billion yuan, and a one-time subsidy of 10 million yuan shall be granted according to their comprehensive contributions. If the paid-in capital is increased by more than 10 billion yuan (including), a one-time subsidy of 20 million yuan shall be granted according to their comprehensive contributions.

b)       Financial institutions newly immigrated to Beijing and registered in Xicheng District shall be granted a one-time start-up fee subsidy according to the standard of paragraph 1 of this Article.

c)        Support cross-regional mergers and acquisitions and market-oriented reorganization of conditional financial institutions, mergers and acquisitions of financial institutions outside Xicheng District, and mergers and acquisitions subsidies shall be granted to those enterprises whose registered places and main business activities are located in Xicheng District after reorganization. The reward criteria refer to the provisions of paragraph 1 of this article on capital increase subsidy.

3.        Guide angel investment, venture capital and equity investment to participate in the construction of "top-notch” economic structure.

a)        For angel investment, venture capital and equity investment institutions newly established and filed by fund managers and funds managed in Xicheng District, in supporting services such as science and technology, finance, cultural and creative industries, as well as high-tech and emerging industries such as integrated circuits and new energy sources, in accordance with the actual investment scale, the fund manager shall be given incentives. If the actual investment scale reaches 3 billion yuan (including) - 5 billion yuan, one-time funds of 5 million yuan shall be given. If it is more than 5 billion yuan (including) is provided, 7.5 million yuan shall be given as one-time fund support.

b)       For successful quitting and supporting the listing of enterprises, on the basis of the above incentives, the actual investment scale is 3 billion yuan (including) - 5 billion yuan, and a one-time fund of 5 million yuan shall be given to support. For more than 5 billion yuan (including) one-time fund support of 7.5 million yuan shall be given.

4.        Reduce the operating costs of newly established and newly relocated financial institutions.

a)        Funding subsidies shall be given to newly established or newly relocated financial institutions in Xicheng District for new purchases or leases of self-use office space.

b)       For the purchase of office space, the subsidy per square meter is 1,500 yuan; for those who rent office buildings, subsidies shall be given annually for the first three years at the rate of 50% of the current year's rent.

5.        Support the construction of the world's outstanding financial talent gathering area on Financial Street.

a)        Considering the business scale, market position, innovative ability and comprehensive contribution of financial institutions in the financial development of Xicheng District, some financial incentives and comprehensive service support shall be given to senior managers and core business backbone of key domestic financial institutions. Reward shall be granted to outstanding financial talents of well-known foreign financial institutions to support the gathering and development of international outstanding financial talents.

b)       Integrate public resources such as medical care, education, housing, etc., and actively establish public service platforms and professional teams to provide high-quality and efficient services to excellent financial talents of financial institutions in medical care, children's enrollment and residence.

c)        For senior managers and core business backbone of financial institutions and equity investment institutions that meet certain requirements, the procedures of introduction and work residence permit should be speeded up.

6.        Intensify the training of listing counseling for enterprises, and support the listing of enterprises of the district in the well-known capital markets at home and abroad, and be listed in the National Small and Medium Enterprise Share Transfer System Co., Ltd. For eligible ones, appropriate special support funds shall be given.

a)        If the listed enterprises have moved into Xicheng District, they shall be subsidized according to the special support fund standard.

b)       The specific subsidies are subject to the relevant regulations that have been separately formulated.

7.        Improve the capacity of the National Financial Management Center of the Service Finance Street.

a)        Promote the reform of the service system of the Financial Street, and deepen the concept of cooperation, co-construction, co-governance, and sharing development. According to the framework model of "government authorization + cross-border co-governance + professional operation + market mechanism", a diversified, multi-level and all-round service support system with trinity and organic coordination of Beijing Financial Street Cooperative Development Council, Beijing Financial Street Service Bureau and Beijing Financial Street Service Center Co., Ltd. is constructed to create a good working and living environment for the state financial management departments, resident financial institutions and practitioners.

b)       Strengthen the synergy and linkage development between Financial Street and surrounding areas, improve the supporting service facilities of business, life and culture, and enhance the resource carrying capacity of high-end financial elements in the region.

c)        Give full play to the role of the Financial Street Forum and other internationally renowned high-end financial dialogue platforms, enhance the international influence of brand activities and create a good financial and cultural atmosphere.

8.        Create an open environment for financial development.

a)        Implement the preferential policy of expanding the comprehensive pilot opening of Beijing's service industry and actively promote the opening up of the financial industry.

b)       In accordance with the unified deployment of expanding financial openness by the state, give full play to the effect of brand clustering in Financial Street, support foreign financial institutions with international influence to set up wholly-owned or joint venture institutions in Financial Street, and build gathering places for international financial institutions.

c)        Support the development of international financial organizations such as payment and liquidation, credit rating and so on in the Financial Street, and provide high-quality and efficient services to foreign financial institutions to enter the domestic market.

d)       Guide the extensive cooperation of banks, insurance, equity investment, and central enterprises, build an industrial ecology that serves the “Belt and Road” and serve the internationalization strategy of RMB.

e)        Improve the quality of education, medical service and internationalization of international financial talents and foreign financial talents and their relatives, and actively implement facilitation policies and measures in immigration, permanent residence in Beijing, and employment permits.

9.        Build an international first-class business environment.

a)        Implement the service model of "service cards, demonstration cards, barometers, Cordial and Clean Meetings and honor rolls", implement the "one enterprise, one member" service system, and provide commissioner services to key regional institutions. Establish a financial street government service agency platform to provide one-stop agency services to financial institutions.

b)       Support the financial management departments and trade associations to formulate and promote various financial industry standards and promote the construction of information infrastructure.

c)        Support the development of credit service institutions such as enterprise credit reporting agencies and credit rating agencies, and promote the construction of social credit system.

d)       Support the improvement of financial judicial and arbitration mechanisms, give full play to the court functions of Financial Street, provide legal dispute resolution mechanisms to various financial institutions and investors at home and abroad, and optimize the regional judicial environment.

e)        Firmly adhere to the bottom line of avoiding regional and systemic risks and create a stable environment for development.

10.    Where an institution applying for appropriate financial support involves the provision of false materials, violation of corresponding commitments and arbitrage of policy subsidies, the legal liability of the relevant personnel shall be investigated in accordance with the law, and the support funds issued shall be recovered and they shall be incorporated into the records of bad credit information of the enterprises.

11.    This opinion is interpreted by the Beijing Financial Street Service Bureau and implemented from the date of issuance.


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