Shenzhen supports the development of financial technology: encouraging the application of smart contracts in the field of digital renminbi

The “Measures” pointed out that relying on carriers such as the Shenzhen Institute of Financial Technology, actively connect with the People’s Bank of China, and deepen the research and development, application and international cooperation of digital renminbi. Attract major infrastructure related to digital renminbi to Shenzhen, and cultivate the ecology of digital renminbi industry .

Actively encourage the integrated application of smart contract technology in the field of digital renminbi, take the lead in building a public platform for smart contracts based on digital renminbi, serve the full-scenario application of digital renminbi, and create a new form of business circulation .

The “Measures” require that the key technologies of fintech be promoted. Support scientific research institutes and financial technology institutions to continuously promote the research and development and financial application of key basic technologies such as artificial intelligence, blockchain, database, distributed technology, and privacy computing, and improve the basic technical support capabilities of financial products, financial services, and financial supervision.

The following is the full text of the document:

Several measures of Shenzhen to support the development of financial technology

In order to implement the Outline Development Plan for the Guangdong-Hong Kong-Macao Greater Bay Area, the Opinions of the Central Committee of the Communist Party of China and the State Council on Supporting Shenzhen to Build a Pilot Demonstration Zone of Socialism with Chinese Characteristics, and the Implementation Plan for the Comprehensive Reform of Shenzhen’s Construction of a Pilot Demonstration Zone of Socialism with Chinese Characteristics (2020-2025) In accordance with the spirit of documents such as the 14th Five-Year Plan for National Economic and Social Development of the People’s Republic of China and the Outline of Vision 2035, and the People’s Bank of China’s Financial Technology-related Development Plan, adhere to the principles of market leadership and government guidance, and insist on innovation. This measure is formulated to drive development, seize financial technology development opportunities, accelerate the upgrading of the financial technology industry, help Shenzhen build a global financial technology center, and provide financial support for Shenzhen to build a pilot demonstration zone of socialism with Chinese characteristics.

1. Attracting fintech companies to develop in deep agglomeration

(1) For important institutions such as clearing centers, data centers, scientific research centers, evaluation centers and service centers initiated and established by the national financial regulatory authorities and their directly affiliated institutions in Shenzhen, if the paid-in capital is more than 200 million yuan (inclusive), 2,000 yuan will be granted. RMB 10,000 one-time settlement reward; for other key financial technology projects, systemically important institutions, infrastructure and platforms (base ), after being identified by the Municipal People’s Government, a one-time settlement reward of 10 million yuan will be given. After the relevant institutions receive the settlement incentive, they will no longer enjoy other financial support such as the start-up fee.

(2) Encourage high-quality equity investment companies that focus on investing in financial technology companies to develop in Shenzhen, and promote the connection between financial technology companies and equity investment companies. Support equity investment enterprises to enjoy preferential policies such as settlement, industrial housing, management fee income incentives, etc. . Encourage the Shenzhen Angel Investment Guidance Fund to cooperate with social capital to initiate the establishment of sub-funds to support the development of fintech in accordance with laws and regulations, play the role of market resource allocation and the role of fiscal funds in guiding and magnifying, and attract more capital to invest in fintech projects.

(3) Encourage the innovation and development of financial technology enterprises in Shenzhen to become bigger and stronger. Support the listing and financing of high-quality financial technology enterprises. Support financial technology companies to expand financing channels by issuing bonds and asset securitization. Support qualified fintech enterprises to apply for the identification of headquarters enterprises in accordance with the “Shenzhen Implementation Measures for Encouraging the High-quality Development of Headquarters Enterprises” (Shen Fu Gui [2021] No. 5), and apply to the municipal development and reform department for the headquarters enterprise settlement award, Contribution awards, rental and purchase subsidies and other policies. Support Shenzhen financial technology headquarters enterprises to apply for industrial land and technology research and development investment subsidies.

(4) Create a cluster of financial technology development. Relying on the city’s leading fintech enterprises and fintech professional parks (buildings) with a good foundation for development, it is located in Meicai Area, Shenzhen Bay Science and Technology Ecological Park, Xiangmihu New Financial Center, Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone and other areas Support the construction and identification of several municipal-level fintech industrial parks (buildings), and create city-wide fintech display windows and distinctive business cards.

2. Make every effort to enhance the global influence of Shenzhen’s fintech

(5) The Municipal People’s Government holds the Fintech Festival every year, during which Fintech competitions, Fintech forums and Fintech exhibitions are held. For the financial technology competition, the funds are guaranteed in the form of marketization and government subsidies. The Municipal People’s Government will provide financial support of no more than 3 million yuan according to 50% of the audited holding costs. For the projects that won the competition and chose to land in Shenzhen A total of 10 million yuan of bonus support will be given, and a series of supporting policies will be provided in terms of entrepreneurial space, entrepreneurial services, and financial assistance.

(6) For forums and other large-scale exchange activities held during the Fintech Festival and subject to pre-recording and post-audit, the organizer will be given a total of no more than 4 million yuan in funding support based on 50% of the audited hosting costs.

(7) Relying on the existing Shenzhen International Financial Expo to hold the Shenzhen Financial Technology Achievement Exhibition and Fair, the organizer will be given a total of no more than 2 million yuan in funding support according to 50% of the audited holding costs. Build a Shenzhen Financial Technology Achievement Exhibition and Trading Center, attract domestic and foreign companies for long-term cooperation or investment, and create a global high-quality financial technology product release highland.

3. Make every effort to cultivate leading financial technology companies

(8) Strengthen the support and cultivation of leading fintech enterprises. According to the revenue, financing, contribution, scientific research level and influence of fintech enterprises, regularly select and discover a number of key enterprises in the field of fintech, and incorporate them into the municipal leadership service system. Coordinate and solve outstanding problems in the operation and development of key enterprises. Priority should be given to supporting leading enterprises to participate in government-enterprise cooperation projects such as government-enterprise data docking, financial risk identification, early warning and disposal.

(9) Encourage licensed financial institutions to use technological means to optimize their business, and promote innovative applications in the construction of smart banks, smart investment advisors, asset allocation, risk management, inclusive finance, and green finance.

(10) In traditional financial fields such as banking, insurance, securities, and funds, cultivate a group of new licensed financial institutions with Internet characteristics, drive the digital transformation and upgrading of the financial industry, and comprehensively improve the energy efficiency of financial services.

(11) Cultivate a group of fintech specialized and new enterprises with mature business models and high technical level that provide technical services to licensed financial institutions, and support qualified fintech enterprises in accordance with the “Shenzhen Industry and Information Technology Bureau Specialist” According to the provisions of the Selection Method of “Specialized New Small and Medium Enterprises” (Shengong Xingui [2020] No. 12), apply for the identification of specialized, special and new enterprises. Specialized new enterprises that have passed the accreditation will be given key support in financing services, innovation assistance, special training, etc., and priority will be given to recommending national specialized specialized new “little giants” and provincial specialized specialized new SMEs. For financial technology enterprises that have passed the national specialization and special new “little giant” enterprises and provincial specialization and special new enterprises, they can follow Shenzhen’s “Several Measures for Promoting the High-quality Development of the Manufacturing Industry to Unswervingly Build a Strong Manufacturing City” ( Shen Fu Gui [2021] No. 1), apply to the Municipal Bureau of Industry and Information Technology for a maximum award of no more than 500,000 yuan and 200,000 yuan respectively.

4. Support key financial technology projects

(12) Accelerate the promotion of the integration and application of government data and public data, create an integrated financial theme database, and serve the application of regulatory technology. Promote the continuous upgrading of regulatory technology capabilities, continue to iteratively update the existing financial risk monitoring and early warning system, and continuously improve the ability to detect emerging illegal financial activities. Guided by supporting the superior and limiting the inferior, build a sunshine publicity platform to guide high-quality private equity fund companies to actively disclose information.

(13) Promote the innovation of information technology application in the key information infrastructure of the financial industry. For the financial industry information technology application innovation research base established in Shenzhen, coordinate support for venues, start-up funds, operating funds, etc., and actively promote the innovation of innovation achievements. Promote the application.

(14) Relying on the Shenzhen Institute of Financial Technology and other carriers, actively connect with the People’s Bank of China, and deepen the research and development, application and international cooperation of digital renminbi. Attract major infrastructure related to digital renminbi to Shenzhen, and cultivate the ecology of digital renminbi industry.

(15) Actively encourage the integrated application of smart contract technology in the field of digital renminbi, take the lead in building a public platform for smart contracts based on digital renminbi, serve the full-scenario application of digital renminbi, and create a new form of business circulation.

(16) Promote the linkage and cooperation between the trade finance blockchain platform of the Digital Currency Research Institute of the People’s Bank of China and the overseas trade finance platform, encourage high-quality foreign trade enterprises to actively participate, enrich application scenarios, and explore the landing scenarios of RMB internationalization and trade facilitation.

(17) Encourage the development of supply chain finance, reduce the financing costs of small, medium and micro enterprises, and improve the efficiency of supply chain finance in serving the real economy. Support supply chain financial enterprises to keep upright and innovative, and use cutting-edge technologies such as privacy computing and blockchain to explore data fusion and sharing applications.

(18) Promote key technological breakthroughs in financial technology. Support scientific research institutes and financial technology institutions to continuously promote the research and development and financial application of key basic technologies such as artificial intelligence, blockchain, database, distributed technology, and privacy computing, and improve the basic technical support capabilities of financial products, financial services, and financial supervision.

V. Create a good financial technology ecological environment

(19) Encourage fintech enterprises to participate in the selection of the Municipal Financial Innovation Award. Accelerate the pilot work on the application and supervision of fintech, and demonstrate the fintech projects included in the fintech-related pilots of the People’s Bank of China, the China Securities Regulatory Commission and other national financial regulatory authorities from the aspects of technical security and economic and social benefits. Under the premise of control, support to expand the scope for promotion.

(20) Increase support for regulatory technology and compliance technology. Support financial regulatory agencies to use technological means to innovate regulatory models and improve their regulatory capabilities. Encourage all kinds of financial institutions to independently or cooperate with technology companies to carry out compliant technology research and development and innovative applications, reduce compliance costs, and improve the automation and intelligence of compliance management. Support the development of institutions or enterprises that carry out fintech security-related businesses; explore the construction of a financial information infrastructure management platform, increase the building of digital supervision capabilities, and strengthen risk monitoring and early warning for fintech enterprises.

(21) Optimize the technology governance system. Support the establishment of financial technology industry organizations and professional think tanks, strengthen research on financial technology ethics regulation, industry self-discipline, etc., and standardize the development of the industry. Improve data quality and data ownership governance systems, and establish technology, information, and data security standards.

(22) Promote the integrated development of financial technology in the Guangdong-Hong Kong-Macao Greater Bay Area. Give full play to the role of organizations such as the Shenzhen-Hong Kong-Macao Fintech Alliance, strengthen the construction of financial technology space carriers, strengthen the cultivation of financial technology enterprises, regularly hold financial technology exchange activities, and carry out research related to financial technology.

(23) Encourage the use of financial technology to create social value. Explore the integrated development of financial technology and green finance, and strengthen the application of financial technology in key links of green finance. Use financial technology to optimize the carbon emission monitoring, reporting and verification system, improve the operating efficiency of the emission rights trading market, and contribute to Shenzhen’s carbon neutralization goal.

6. Increase the training and introduction of financial technology talents

(24) Support relevant institutions to launch the special training of “Shenzhen, Hong Kong and Macau Fintech Engineers”, and support 50% of the audited start-up cost for projects that have been filed and audited afterwards, and each training project shall not exceed 1 million yuan. , the annual arrangement does not exceed 3 million yuan.

(25) Continue to improve the “Shenzhen, Hong Kong and Macau FinTech Specialist” professional plan, and enhance the popularity and influence of the professional plan. Arrange no more than 2 million yuan per year to reward and subsidize institutions that are committed to improving the knowledge system of updating projects, writing and updating translation courses and courseware, developing and improving training content, improving and upgrading supporting systems, and publicity and promotion.

(26) After January 1, 2021, those who have passed the “Shenzhen-Hong Kong-Macao Financial Technician” second-level examination, obtained the “Shenzhen, Hong Kong and Macau Financial Technologist” vocational qualification certificate, and have worked full-time in financial institutions and financial technology enterprises in the city for a total of full-time jobs. For 2 years, each person will be given a one-time incentive subsidy of 10,000 yuan, and the annual arrangement will not exceed 3 million yuan.

(27) Actively connect with the “Hundreds and Tens of Thousands” financial talent training projects, and increase the proportion of financial technology talents in the “Hundreds and Tens of Thousands” projects. Encourage the establishment of fintech majors in Shenzhen universities and train fintech professionals. Encourage the city’s financial technology institutions to cooperate with colleges and universities to set up internship bases for college students, and identify a group of municipal-level financial technology undergraduate internship bases. Encourage the establishment of a platform for contacting supply and demand of financial technology professionals in Shenzhen.

(28) Encourage fintech talent training and exchanges and cooperation with global financial center cities, support qualified fintech institutions to apply for post-doctoral workstations and innovative practice bases, and encourage postdoctoral fellows in the station to carry out research and transfer of technological achievements. Encourage fintech enterprises and industry associations to regularly hold fintech talent festivals, talent seasons and other activities to attract outstanding fintech talents to gather in Shenzhen.

7. Provide high-quality financial technology public services

(29) Further promote the opening, sharing and application of government data in the financial sector. Actively apply blockchain, multi-party secure computing, privacy computing and other technologies to build local financial information infrastructure, provide a safe and convenient data environment for financial institutions on the premise of protecting data privacy and security, and promote government data, social data and financial Data fusion applications.

(30) Strengthen the construction of the big data credit system, encourage licensed credit reporting agencies to use scientific and technological means to issue credit reports, and provide financial institutions with a convenient way to inquire about credit. Encourage relevant departments to cooperate with licensed credit reporting agencies in credit record collection, credit information sharing, credit big data analysis, credit risk early warning, verification of untrustworthy cases, and tracking and monitoring of untrustworthy behavior.

(31) Optimize the financial technology supporting service system. Strengthen the construction of the financial technology ecosystem, encourage the professional and high-end development of intermediaries such as accounting, law, consulting, evaluation, and rating, and provide high-quality professional services for financial technology enterprises.

8. Others

(32) Strengthen the cooperation between the central and local governments and the linkage between urban areas, actively strive for the national financial supervision department to take the lead in pilot projects of fintech innovation in Shenzhen, and encourage all districts to formulate special measures to support fintech development within their jurisdictions with reference to these measures.

(33) Relevant institutions and individuals who have obtained the incentives and subsidies of this measure shall not repeatedly enjoy the same type of incentives, subsidies or subsidies at the municipal level. Relevant institutions that enjoy the incentives, subsidies or subsidies of this measure shall promise to keep their registration and main business activities in Shenzhen, and not to move out of the city within 15 years. Statutory fruits, unless otherwise stipulated by this city.

(34) Those who declare support policies in accordance with these measures shall declare truthfully. Fintech enterprises that receive financial aid awards should help serve the real economy and prevent and resolve financial risks. For those who cheat and obtain rewards, subsidies and subsidies, the Municipal Local Financial Supervision and Administration Bureau will regularly publicize them, recover the allocated rewards, subsidies, subsidies and their statutory fruits, and cancel their qualifications for applying for rewards, subsidies, and subsidies within three years; it constitutes a crime. , transfer to judicial organs for criminal responsibility.

(35) If the laws, regulations and policies involved in this measure are revised or abolished, the latest regulations shall prevail.

(36) The term “not exceeding” referred to in this measure includes this number.

(37) This measure shall be interpreted by the Municipal Local Financial Supervision and Administration Bureau.

(38) This measure will be implemented from April 7, 2022 and will be valid for 5 years.

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