Finance Valley cashes in on landscape
Print Edition
THE first phase of Shanghai Finance Valley, including 30 independent office buildings, will open for business next month, following two years’ construction.
Eight financial enterprises will move in next month.
Xia Zemin, vice general manager of the valley, said the offices meet international standards and make use of the area’s geography to create a comfortable working environment, complete with water views.
“Such structures and arrangements are pretty rare around the country,” Xia said. “It will be an open and international financial platform, accepting everything from large banks to small loans companies.”
At the third Beijing International Fair for Trade in Services in May, Shanghai Finance Valley and the Brazil National Service Industry Association signed an agreement to work together.
Tie-up with Brazil
The Brazilian organization has 400,000 enterprise members, which together provide 70 percent of Brazil’s gross domestic product.
The collaboration will see Brazilian companies introduce world-leading electronic bank technology into China.
Xia estimated that the two parties will bring added value of over 10 billion yuan (US$1.61 billion) every year.
“We are not as good as Brazil at football, but we are confident in finance,” Xia said.
The building of Shanghai Finance Valley is supported by the Jiading government.
Last year, Jiading issued regulations supporting the modern service industry and set up a set of incentive policies to promote the financial service industry.
So far, more than 100 financial enterprises have expressed their intention to locate in Finance Valley. These include 91 Financial Supermarket and YeePay, plus a number of Brazilian companies.
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