Measures for Financial Innovation Rolled Out

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Shenzhen

SHENZHEN Municipal Government has rolled out 36 measures to advance financial reform and innovation in Qianhai and Shekou, which are included in the recently approved Guangdong Free Trade Zone (FTZ).

The measures include accelerating cross-border financial service innovation, completing a new financial cooperation mechanism between Shenzhen and Hong Kong, completing a financial organization system, boosting integration between finance and industry, and creating a sound environment for financial reform and innovation, Shenzhen Economic Daily reported.

The city will seek to explore a new management mode for Chinese and foreign currencies and launch a cross-border RMB loan service through enterprises in the FTZ.

Shenzhen also aims for a quick launch of the pilot Shenzhen-Hong Kong stock connect and expedited efforts to have Hong Kong institutions set up joint securities ventures and fund management companies in Qianhai.

The other measures include exploration of a collaboration mechanism on Internet finance supervision.

In addition, the city plans to establish an insurance exchange in Qianhai, the paper said.

Shenzhen Daily

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