Notice of the Shenzhen Municipal People's Government on Several Measures to Support the Development of the Financial Industry
The Shenzhen Municipal People’s Government has issued a notice on several measures to support the development of the financial industry on 21 December 2018. In order to further improve the financial support policy system, a total of 23 measures have been put forward from 5 major directions. The main directions include optimizing the financial policy environment, developing the financial headquarters economy, supporting the settlement of branches of financial enterprises, standardizing the development of emerging financial markets and cultivating and introducing innovative financial institutions. The measures include a number of bonus awards, rental support, housing subsidies, etc. In terms of cooperation with Hong Kong and Macao, the policy proposes to promote a long-term financial cooperation mechanism between Hong Kong and Macao, provide facilitation for the financial enterprise that travels abroad and to Hong Kong due to business needs, such as providing support services for the application of “Hong Kong-Mainland driving license” from Guangdong Public Security Bureau.
The measures have been implemented on 6 January 2019 and will be valid for 5 years. The “Measures for Shenzhen to Support the Development of Financial Industry” (Shen Fu Gui [2017] No.2) has been abolished at the same time.