The English version is for reference only. If there is any inconsistency or conflict between the English and Chinese version, the Chinese version shall prevail.

(Hu Fu Ban Fa [2013] No. 48)

All District/County People’s Governments, and all commissions, offices and bureaus of the Municipal Government:

Upon approval of the Municipal People’s Government, the Implementation Plan of the Shanghai Municipal People's Government on Implementing the Guiding Opinions of the General Office of the State Council on Financial Support to Economic Structure Adjustment, Transformation and Upgrading is hereby printed and issued to you for your conscientious implementation.

General Office of Shanghai Municipal People's Government

August 09, 2013

Implementation Plan of the Shanghai Municipal People's Government on Implementing the Guiding Opinions of the General Office of the State Council on Financial Support to Economic Structure Adjustment, Transformation and Upgrading

In order to thoroughly implement the Guiding Opinions of the General Office of the State Council on Financial Support to Economic Structure Adjustment, Transformation and Upgrading (Guo Ban Fa [2013] No. 67), these Implementation Opinions are hereby formulated.

I. Guidelines

Implementing the Guiding Opinions practically as soon as possible, better expediting the role of the financial sector in supporting innovation, transformation and development in Shanghai, so as to make substantial effect, making efforts to maintain the smooth operation pattern of Shanghai’s economy, promoting economic transformation and upgrading in Shanghai, and driving the further development of Shanghai’s financial sector.

II. Specific Requirements

(I) Closely combining with the actual situation in Shanghai. To reflect the characteristics of the regional economy, we shall combine efforts with Shanghai’s realities, and select projects closely related to Shanghai’s economic development to form specific, quantitative and operational work programs and focus on promotion.

(II) Actively and initiatively making efforts. All relevant departments and units shall assume appropriate responsibility and make early planning and promotion according to the division of tasks of counterpart national ministries and commissions set forth in the Guiding Opinions and the arrangement set out in the Implementation Plan. In addition, all relevant departments and units shall take the initiative to contact their respective counterpart national ministries and commissions, positively track policy trends, and promote the timely and effective implementation of policies in Shanghai.

(III) Strengthening division of labor and cooperation. To better boost the synergistic effect of financial policies, fiscal policies and industrial policies, the leading department and participating departments shall be specified for each task (see Attachment). The leading department shall be generally responsible for pushing the work forward, including developing work programs, implementing the division of labor, establishing the mechanism of pushing the work forward jointly with participating departments, and coordinating and solving problems and difficulties encountered in it. The participating department shall be responsible for implementing its own work and actively cooperating with other relevant departments to form a joint effort.

III. Promotion Measures in Categories

The Guiding Opinions involve financial policies, fiscal policies and industrial policies. In order to make full use of all policies and resources, we divide the tasks of implementing the Guiding Opinions into three categories.

First, the match up category, namely the tasks for which there is no policy barrier at present and which require sorting out of specific needs and intensifying match up efforts. Industrial administration departments and financial administration departments shall establish a normal work docking mechanism, regularly communicate information, timely grasp change trends in supply and demand of funds, highlight the leading effect of key projects, fields and sectors on the demand of financial resources, focus on the availability of financial service demand of small and micro enterprises, and organize financial institutions to develop match ups.

Second, policy improvement category, namely tasks which continue to improve promulgated local policies according to the deployment set out in the Guiding Opinions. The policy formulating department shall, in accordance with the Guiding Opinions and in combination with the current situation andrequirements, summarize and analyze the experience and problems in the implementation of policies, timely amend and improve policies, intensify the promotion, implementation of, and synergy between policies, and play a full guiding and promotional role in policy execution.

Third, reform and innovation category, namely the tasks which actively seek pilot programs with respect to the reforms and innovations proposed in the Guiding Opinions in the event that no national ministry or commission has promulgated specific implementation rules or defined an operation route. All relevant departments and units shall take the initiative to communicate with the national ministries and commissions and shall, according to the requirements for construction of the China (Shanghai) Pilot Free Trade Zone, deepen reforms and expand opening-up, propose programs and operational methods with the characteristics of Shanghai, and endeavor to implement pilot programs in Shanghai, to procure the State's relevant arrangements of financial reform, opening-up and innovation to be implemented in Shanghai first.

IV. Supervision of Implementation

The General Office of the Shanghai Municipal People’s Government shall be responsible for supervising the implementation of the Implementation Plan and regularly report the progress of the implementation to the Municipal Government. The General Office of the Shanghai Municipal People’s Government, Shanghai Financial Service Office, the People’s Bank of China Shanghai Headquarter, Shanghai Bureau of China Banking Regulatory Commission, Shanghai Bureau of China Securities Regulatory Commission, and Shanghai Bureau of China Insurance Regulatory Commission shall be responsible for summarizing and assessing the implementation results of the Implementation Plan to promote better financial support to economic structure adjustment, transformation and upgrading in Shanghai.

Attachment: Table of Division of Labor for Major Tasks of Financial Support to Economic Structure Adjustment, Transformation and Upgrading in Shanghai.

Provided by Lawyers Working Committee of Pudong New Area.