Huge subsidies for financial institutions in Dalian

Headquarters of the Bank of Dalian in Zhongshan district, Dalian, Liaoning province [Photo/VCG]

Dalian city government has recently enacted a preferential policy for financial institutions, hoping to speed up the process of developing Dalian into a financial center for China’s Northeast region.

According to the policy, financial institutions that recently established their headquarters in Dalian will be awarded at most 100 million yuan ($14.44 million), so as to attract more financial institutions to make the city as their base of operations.

Headquarters of financial institutions with registered capital from 100 to 300 million yuan will be awarded 3 million yuan; with registered capital between 300 to 500 million yuan, 5 million yuan will be awarded and so on with more registered capital justifying a higher subsidy for relocating their headquarters.

In addition, there are subsidies for financial firms that split shares and establish subsidiary companies.

The government will also give great support for the development of local financial organizations. Newly-launched local financial organizations with over 100 million yuan registered capital can apply for subsidies between 1.5 to 10 million yuan.

Pingan Real Estate, a real estate investment and asset management platform, in Jinpu New Area, Dalian [Photo/VCG]