SIP holds work conference on financial services 全力推动金融高质量发展再攀新高1.jpg

The 2020 SIP Work Conference on Development of Financial Services was held on Mar 17. At the event, SIP authorities declared to spare no efforts to develop SIP into a regional industrial capital center.

The data released at the event show that SIP is seeing a fast expansion of financial services. The number of financial institutions and other organizations engaged in financial activities in SIP increased by 53 to 1,013 last year, while funds raised through IPOs increased by RMB 15 billion, accounting for 78% of the total of Suzhou city. Financial services are providing strong support to SIP’s economic development.[MORE]

SIP quickens pace to make financial services a powerful “engine” for industrial development

SIP aims to develop into a regional industrial capital center where financial services serve as a major “engine” for industrial development.

The “16 Articles on Financial Opening-up and Innovation” is part of the efforts to achieve the goal. The articles are expected to propel significant reform and innovation of financial service mechanisms and help sweep out the obstacles hindering the development of financial services.

Over the past months, many enterprises in the FTZ have benefited from the articles. For example, one of the articles has facilitated the settlement concerning foreign exchange for tens of enterprises.[MORE]

SIP hopes to set an example for integrated financial and industrial development

Striving to become a world-class high-tech park, SIP needs the support from the capital market to bolster local industrial development and, in return, its ever-expanding business cluster and well-ordered financial environment provide investors with new business opportunities and a good guarantee against risks.

In two latest moves, SIP authorities launched the “Listed Companies’ Nursery” program last December to help local businesses go public, and established two special funds to support businesses engaged in emerging industries. Concurrently, SIP hopes more types of capital can join in to give the businesses a leg up.[MORE]

SIP is stepping toward a fintech innovation center in YRD

SIP is now home to 33 projects run by banks, financial service companies and tech companies to develop fintech (financial technology), a new tech that seeks to improve and automate the delivery and use of financial services. It is picking up the pace toward a fintech innovation center in the Yangtze River Delta (YRD) region.

SIP authorities plan to introduce more projects of the kind in the future and give them all-around support so that an integrated fintech development and application ecosystem can form up in the area. Specifically, more platforms for fintech innovation and development will be set up, while administrative supervision will be enhanced and special policies will be implemented to support cultivation of fintech professionals and entice more people into related R&D activities.[MORE]