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SIP holds work conference on financial services


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.
 
Based on the achievements, SIP is trying to seek new breakthroughs in the financial sector. 
The “16 Articles on Financial Opening-up and Innovation” was issued early this year, with extremely attractive policy incentives aimed at driving development of financial services in the China (Jiangsu) Pilot Free Trade Zone Suzhou Area established in the area last September.
Apart from that, the local authorities are offering other preferential policies and excellent administrative services to attract outstanding financial service suppliers, motivate them to innovate on their products and services and help them expand cooperation with local businesses. Besides, they are intensifying actions against illegal financial activities and financial risks.