Beijing’s Xicheng district issued a construction program of Beijing fintech and profession service innovation demonstration area on the Second China Internet Finance Forum held on December 8, 2018 in Beijing, China.
The construction program sets up short-term, mid-term and long-term goals with 2020, 2025 and 2035 as time nodes, and strives for Beijing to become a leader in global fintech supervision system, a growth pole of industry development, source of systems standard and a leading choice for innovation talents.
According to an official of Xicheng district, the fintech demonstration area covers the 10 square kilometers’ Zhongguancun Xicheng Park, including three blocks of one around Beijing Exhibition Hall (BEH), Desheng and Guang’an.
Among them, some 300,000 square meters vacated from the former Beijing Zoo wholesale markets in BEH area will become the core area where supervision science and technology, fintech, risk management, finance security as well as innovative profession service supporting fintech industry will be laid out mainly.
To attract fintech enterprises and profession service institutions to develop in the fintech demonstration area, Xicheng district, together with Zhongguancun Administration Committee and Beijing Finance Street Service Bureau, have made some measures to support the construction of the fintech demonstration area, which are called as “Ten measures for Fintech”.
In accord with the measures issued, Xicheng district will offer capital supports in many areas, like house rent subsidies for three consecutive years, subsidy of maximum 50 million yuan (7.2 million U.S. dollars) for enterprises to go public.
Meanwhile, Xicheng district will grant maximum 10 million yuan as incentive to enterprises that will make innovation in cutting-edge technologies like artificial intelligence, blockchain technology, quantitative investment, and smart finance etc, to assist the city’s smart operation.
In addition, according to the “Ten measures for Fintech”, Xicheng district, by taking advantage of its abundant public service resources, will open green channel to bring in talents, give outstanding persons capital award, provide them comprehensive services like children’s education and medical insurance to enable them to start up business and develop securely in the fintech demonstration area.