Nansha acts to support local financial service industry

Nansha's financial working bureau launched detailed implementing rules to support the development of its financial service industry on July 24, aiming to further improve the development environment of the local finance industry.

The detailed implementing rules have broadened the scope of rewards, covering 35 financial formats like key licensed legal person financial institutions, financial enterprises under prioritized development, and characteristic financial enterprises.

Key licensed legal person financial institutions that have newly settled in Nansha can receive financial support of up to nearly 70 million yuan ($10.03 million), while financial enterprises under prioritized development that have newly come to Nansha can receive a reward of up to around 63 million yuan.

Financial companies renting offices for their own use can receive an annual subsidy of up to 3 million yuan for three years and those purchasing their own offices will be able to receive a one-time reward of up to 10 million yuan.

Rewards will be given to key licensed legal person financial institutions according to their contributions to the local economy for five years. The rewards in the first three years will be 100 percent of their economic contributions, while the rewards for the next two years will be up to 70 percent of their economic contributions.

Backup companies for listing are eligible to receive a reward up to 8 million yuan if they get listed on the domestic multi-level capital market (Main Board, SME Board, GEM Board, Science and Technology Board) or overseas markets. An additional one-time reward of 5 million yuan will be available if the listed companies move to Nansha.

Financial institutions in Nansha carrying out business supported by the country, such as green finance, rural finance, and inclusive finance, can receive a subsidy of up to 50 percent of the financial support they have won from different levels.