The Beijing Economic-Technological Development Area (BDA) introduced the Several Measures to Support the High-Quality Development of Industrial Finance in the BDA (Trial) (hereinafter referred to as the“Measures”) in March, 2022.

Aiming at promoting industrial finance in the BDA, the Measures covers six major items, including the establishment of an industrial finance system, attracting investment institutions, diversifying financial formats, supporting cross-border finance, promoting the development of financial institutions, and enhancing the development of financial talent. The areas are further detailed in 12 supporting measures, with the maximum reward of 60 million yuan ($8.23 million).

To further improve the supply system of industrial finance, the BDA welcomes industrial finance institutions to establish offices. Licensed financial institutions -- including banks, securities companies, insurance companies, corporate group finance companies, financial leasing companies, auto financing companies and consumer financing companies, and their subsidiaries -- are encouraged to set up operations within the BDA. They will receive a subsidy of up to 60 million yuan.

For such established financial institutions, newly introduced or established first-tier branches of banks, securities companies, insurance companies, and local financial organizations with robust industrial support, varying levels of support will be provided. 

Meanwhile, according to the Measures, industrial financial institutions mentioned above will be granted a subsidy of no more than 30 million yuan for the purchase or lease of office premises, thereby reducing their operational costs.

The highest reward for investment attraction is 10 million yuan, while project introduction can earn rewards ranging from 1 million to 2 million yuan. Regional economic contribution can be rewarded with up to 10 million yuan, and the individuals in investment teams can receive an annual reward of up to 1 million yuan. All these incentives are designed to promote the concentration of investment institutions and ramp up financial support for industries.

With regard to the high-quality development of industrial and supply chains, the BDA leverages the maximum reward of 5 million yuan to promote the growth of various financial formats such as commercial factoring and financial lease. By rewarding local commercial factoring companies that meet specific operational criteria, factoring financing is employed to enhance their ability to serve physical industries. Financial leasing companies operating within the BDA which provide financial leasing services to local companies, and purchase equipment produced by enterprises within the BDA for leasing purposes can receive a combined annual reward of up to 5 million yuan per company.

To support the development of cross-border finance, financial institutions in the BDA that provide cross-border settlement services like cross-border remittance and letter of credit for local companies can get the highest cumulative reward of 10 million yuan per year, enhancing their financial services for international trade.

To encourage licensed financial institutions and local financial institutions to improve their contribution to the BDA's economy, those institutions paying an annual tax sum of 10 million yuan and above within the three fiscal years will receive a reward equal to 30 percent of the disposable portion of the BDA's finance based on their regional economic contribution in that year.

To provide intellectual support for the development of industrial finance, the BDA offers a range of services to financial talents, including settlement assistance, housing, healthcare, and educational support for their children. Additionally, the BDA enhances the supporting service package and facilities to create a high-quality working and living environment for financial professionals.

Through the implementation of the Measures, the BDA seeks to elevate the financial service industry, stimulate the vitality of financial institutions, and leverage more private sector investments into the BDA's four major industries, high-end, precision and sophisticated industries, and the green industry. These efforts are intended to speed up the BDA's high-quality development.