Hezhou launches supportive policies for finance sector

To boost the high-quality development of the finance industry, Hezhou New Area (Preparatory) recently launched a series of supportive policies that cover investment attraction, service supporting, and space construction.

Financial institutions that are licensed legal-entities will be granted a maximum reward of 20 million yuan ($2.89 million) for settling in Hezhou. In addition, an 80 percent, 70 percent, or 50-60 percent portion of an enterprise's contributions to the local economy will be awarded back to them for up to three consecutive years.

Hezhou will also set up a risk compensation mechanism, of which the cumulative compensation can reach up to 5 million yuan ($724,081). For individuals who meet relevant requirements and have obtained the qualifications to become chartered financial analysts (CFA), financial risk managers (FRM), and certified public accountants (CPA), a one-time reward of up to 30,000 yuan ($4,346) will be granted.

Hezhou New Area [Photo courtesy Guanhai App]

Enterprises that have been listed or will soon be listed in the three domestic stock exchanges in Shanghai, Shenzhen, or Beijing can garner a maximum award of 10 million yuan ($1.45 million). Enterprises that are listed in foreign stock exchanges and meet relevant requirements can get a reward of up to 5 million yuan.

Enterprises listed on China's National Equities Exchange and Quotations (NEEQ), also known as the "new third board," will receive a maximum reward of 2 million yuan ($289,739). Incentive funds of different amounts will also be given to listed and prospective listed enterprises that relocate to Hezhou from outside Zhuhai.

For QFLP (qualified foreign limited partner) pilot enterprises, a 60 percent portion of their contributions to local economy will be awarded back to them for a maximum of three consecutive years. Support of up to 6 million yuan ($869,206) will be given to QFLP pilot enterprises depending on the investment type.

QDLP (qualified domestic limited partner) enterprises that obtain pilot qualifications will be given a maximum reward of 1 million yuan ($14,506).