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Improving FTZ's Financial Innovation Units and Speeding up Shanghai's Construction for an International Financial Center (2015)

Updated:2017-07-24

3. Enlarge domestic and foreign opening up of the financial services industry

Support private capital in entering the financial industry and finance organizations that accord with banking industry regulations in entering the FTZ for business through new corporations, branch or specialized organizations and branch companies.

Support commercial banks with offshore business qualifications in expanding offshore business in FTZ and non-standard assets trading for investors of organizations, in accordance with national FIEZ regulations.

Allow securities futures businesses in the FTZ to do pilot work in cross licensed securities futures business and thet setting up of branch companies in index fund management in the FTZ by public offering fund management companies.

Support long-term capital, such as insurance, in securities futures businesses in cross-boundary investment in the FTZ in accordance with regulations and securities futures businesses in taking the lead in cross-boundary brokerages and assets management businesses in FIEZ and in participating in foreign securities futures and derivative trade.

Support project companies in foreign stock investment in FTZ and investors that accord with foreign stock right investment fund regulations and allow foreign-funded finance organizations to set up a joint securities company in FTZ, keeping the shareholding ratio of foreign-funded companies at no more than 49 percent; Chinese-funded shareholders toned not expand the business scope of a joint securities company for the securities company; and foreign-funded organizations that meet the conditions can set up joint securities investment and consultation companies in FTZ.

Support insurance assets management companies and branch companies and the insurance capital application center in FTZ and foreign-funded health insurance organizations in accordance with the law and Chinese and foreign-funded reinsurance organization in FTZ.

Follow national security regulations on foreign capital in the financial opening-up pilot in FIEZ and support national or regional financial organizations that have signed an FTZ agreement with the county in taking the lead ib joint financial organizations in FIEZ and gradually improve the shareholding ratio.

Improve the shareholding proportion of service providers in Hong Kong, Macao and Taiwan in financial organizations in FTZ in line with the economic and trade cooperation agreement of the mainland, Hong Kong and Macao, and Taiwan.

4. Speed up development of financial markets involving the international community

Support the Shanghai Stock Exchange in setting up international financial assets trade in FTZ and introduce foreign long-term capital in of the Chinese stock, bond and fund trade in an orderly way and looks for ways to introduce foreign investors to domestic needs,

Allow appropriate foreign organizations to set up sole or joint futures market services in FTZ and foreign traders in futures trades of specific types.

Support the Shanghai Clearing House in providing shipping finance and clearing of OTC bulk commodity derivatives for investors in the zone and foreign investors and stock-rights trustee trade organizations in providing comprehensive financial services for small-to-mid-sized technology-oriented enterprises in FTZ in accordance with the law and attract foreign investors.

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