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Finance companies may qualify for subsidies in Bund pilot zone
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Financial companies that serve the Internet industry in the Bund Financial Pilot Zone will be eligible for a subsidy, the Huangpu District government said over the weekend.
Companies that develop innovative Internet financial products will also be eligible for a subsidy from both the city and district governments, the Huangpu government said as it launched 10 policies to support the Internet industry.
The newly established Internet financial companies including banks, trust company, financial renting company and stock exchange companies will get subsidies for opening in the zone. They will also be allowed to use Bund in the company’s name, said Zhou Wei, the district’s Party Chief.
The district government will also set up a risk control fund and cooperate with insurance companies, Zhou said.
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