April 13 2023

Shenzhen’s Authority of Qianhai Issues Further Incentive Policies to Support the High-Quality Development of Local Financial Industry

The Authority of Qianhai in Shenzhen released on April 12, 2023 the revised Special Fund Management Measures for Supporting the High-Quality Development of the Financial Industry in the Qianhai Shenzhen-Hong Kong Modern Services Industry Cooperation Zone, which will be effective for three years starting on April 10, 2023.

Consisting of a total of 45 articles, the revised Measures support the development of the characteristic financial industry. For the first three years of the lease term, companies engaged in specialized aircraft and aviation equipment leasing business will get uncapped annual rewards at a rate not exceeding 2.5 percent of the total contractual rental amount, while companies operating in ship, marine equipment and other businesses can receive uncapped rewards at 1 percent of their actual lease contract amount or the purchase contract amount of leased assets of the concerned year. The Measures also earmark sufficient supporting funds to encourage the development of commercial factoring, support the listing of enterprises to raise funds, and promote financial institutions to better serve the real economy.