Xi Xing Gui Fa [2018] No. 6
To the commissions, offices, bureaus, sub-district offices, and relevant organizations of the district government:
The Measures on Supporting the Construction of Beijing Fintech and Professional Service Innovation Demonstration Zone (Xicheng District) is hereby issued to you for your conscientious implementation.
Xicheng District People's Government of Beijing Municipality
Zhongguancun Science Park Administrative Committee
Beijing Financial Street Services Bureau
December 7, 2018
Measures on Supporting the Construction of Beijing Fintech and Professional Services Innovation Demonstration Zone (Xicheng District)
The Measures have been formulated in accordance with Beijing's Promotion Plan for Fintech Development (2018-2022) (Zhong Ke Yuan Fa [2018] No. 40) and the Guiding Opinions on the Capital's Fintech Innovation and Development (Jing Jin Rong [2018] No. 212), based on practical conditions and meant to serve the following purposes:
- provide high-level services and support the construction of the National Financial Management Center, National Science and Technology Innovation Center, and Zhongguancun National Science and Technology Financial Innovation Center
- accelerate the construction of the Beijing Fintech and Professional Services Innovation Demonstration Zone (hereinafter referred to as the Demonstration Zone) in Xicheng Park of Zhongguancun Science Park, and
- build a safe and orderly Fintech industry ecology.
1. Targets to be supported: Fintech enterprises and professional service institutions
a) Fintech enterprises: Enterprises engaged in the research and development and application of advanced technologies in the financial fields, including artificial intelligence, big data, interconnection technology, distributed technology, security technology, etc.
b) Professional service institutions: Institutions providing professional services regarding information, law, finance, intellectual property, human resources, business incubation, etc. to financial institutions and Fintech enterprises; research institutions and industry organizations in the field of Fintech; building operation institutions that provide property and other services to Fintech enterprises and professional service institutions.
c) Enterprises and institutions to be supported by the Measures shall meet the following conditions: their business scopes are aligned with the functional orientation of the Capital's core area; they are registered and taxed within the Demonstration Zone (Xicheng District), and operate in accordance with laws and regulations. Enterprises and institutions entitled to support policies of the Zhongguancun Science Park Administrative Committee must be high-tech enterprises (including national high-tech enterprises and Zhongguancun high-tech enterprises) registered in Xicheng Park of Zhongguancun Science Park.
2. Support the residence and development of Fintech enterprises and professional service institutions
a) Newly established or relocated key Fintech enterprises may receive financial subsidies according to their comprehensive contributions. Eligible applicants may receive a subsidy of CNY 2 million for a paid-in capital amount of CNY 50 million and above up to CNY 100 million, CNY 5 million for paid-in CNY 100 million and above up to CNY 500 million, CNY 10 million for paid-in CNY 500 million and above up to CNY 1 billion, CNY 20 million for paid-in CNY 1 billion and above up to CNY 3 billion, and CNY 50 million for paid-in CNY 3 billion and above. For established Fintech enterprises increasing their paid-in capital by CNY 100 million and above up to CNY 1 billion, a one-off subsidy of CNY 1 million may be given according to their comprehensive contribution. For an incremental paid-in capital amount of more than CNY 1 billion, an annual subsidy of CNY 10 million may be given according to their comprehensive contribution. For key Fintech enterprises cultivated by enterprises in the district, the investing or funding enterprises may receive subsidies equivalent to 10% of the paid-in capital, not more than CNY 10 million at maximum, to be paid at 40%, 30%, and 30% over three years.
(To be implemented by the Xicheng District Government)
b) Financial subsidies shall be given to newly established or relocated key Fintech enterprises and professional service institutions for purchasing or renting office buildings for their own use. For the purchase of office buildings, a subsidy of CNY 1,500 per square meter shall be given. In regards to renting office buildings, enterprises will be comprehensively assessed and divided into two grades according to the comprehensive contribution, market position, future influence, and other factors of enterprises or professional service institutions, and financial subsidies equivalent to 30% or 50% of the actual rent shall be granted by the Xicheng District Government. The subsidy period shall not exceed three years, and the accumulated subsidy for purchasing and renting office buildings shall not exceed CNY 50 million.
(To be implemented by the Xicheng District Government)
c) Support qualified Fintech enterprises in applying for relevant financial business qualifications or financial licenses, and a one-off financial subsidy of CNY 500,000 shall be granted for a single qualification or license obtained by an individual enterprise.
(To be implemented by the Zhongguancun Science Park Administrative Committee)
d)Financial rewards shall be granted to enterprises with outstanding contributions. Fintech enterprises and professional service institutions that have made outstanding contributions to the economic development of Xicheng District over the last year will be awarded the honorary title of Outstanding Contribution Enterprises and awarded in accordance with the Measures of Xicheng District for Developing Key Service Providers for High-end, Prevision and Sophisticated Industries.
(To be implemented by the Xicheng District Government)
3. Support Fintech enterprises in improving independent innovation capabilities
a) Support Fintech enterprises to commercialize and industrialize achievements seen in artificial intelligence, big data, interconnection technology, distributed technology, security technology, and other key fundamental technologies. For such commercialization projects, financial support equivalent to no more than 30% of the total investment shall be granted, up to a maximum of CNY 10 million in total for three consecutive years. For industrialization projects, financial support equivalent to no more than 30% of the total investment of the project shall be granted, up to a maximum of CNY 30 million in total for three consecutive years.
(To be implemented by the Zhongguancun Science Park Administrative Committee)
b) Fintech enterprises may receive financial support of not more than the same amount of financial support for relevant science and technology and industrialization projects from the Ministry of Science and Technology, the Ministry of Industry and Information Technology. Fintech enterprises may receive financial support of not more than half the amount of the financial support for science and technology and industrialization projects from Beijing Municipal Science and Technology Commission and Administrative Committee of Zhongguancun Science Park. The total amount of financial support for each individual project shall not exceed CNY 1 million, and the same enterprise may receive a total amount of financial support of not more than CNY 3 million.
(To be implemented by the Xicheng District Government)
c) Support Fintech enterprises in setting up R&D institutions. Self-built R&D institutions that have been approved as national and municipal projects and been financially supported shall be entitled to financial support equivalent to half of the obtained funds, up to a maximum of CNY 1.5 million. For those who have been recognized as national and municipal enterprise engineering (technology) research centers and key (engineering) laboratories, one-off financial support of CNY 200,000 and CNY 100,000 will be given respectively.
(To be implemented by the Xicheng District Government)
d) Support Fintech enterprises and professional service institutions in leading and participating in the development of technical standards. Fintech enterprises and professional service institution that lead or participate in the development of international standards, national standards, and industrial standards in the field of financial science and technology, as one of the top five drafting units, will be given one-off subsidies of CNY 1 million, CNY 400,000, and CNY 200,000 respectively after the publication of the standards. Fintech enterprises and professional service institutions that undertake secretariat work of international standardization technical committees, sub-committees and working groups in financial science and technology fields may receive one-off subsidies of CNY 300,000, CNY 200,000 and CNY 100,000 respectively. Fintech enterprises and professional service institutions that undertake secretariat work of national standardization technical committees and sub-committees in financial science and technology fields may receive one-off subsidies of CNY 150,000 and CNY 100,000 respectively.
(To be implemented by the Xicheng District Government)
4. Strive for setting up of supervision experimental area in the Demonstration Zone, and vigorously expand the Fintech application scenarios
a) Actively support financial regulatory authorities, financial industry associations, and other organizations in setting up regulatory experimental areas in the Demonstration Zone, and strive for policies for pre-emptive and initial implementation of financial regulation measures. Actively cooperate in carrying out Fintech application testing, financial license pilots, regulatory system innovations, and other policies conducive to the systematic development of financial innovation.
(To be implemented by the Xicheng District Government)
b) Support Fintech enterprises in providing services to financial regulators and financial institutions, carry out demonstration applications of artificial intelligence, block chain, and other cutting-edge technologies, and improve the efficiency and convenience of financial services. The Administrative Committee of Zhongguancun Science Park shall provide the enterprise with financial support equivalent to 30% of the amount of the technology application contract or purchase agreement signed between a Fintech enterprise and a financial regulatory institution or financial institution, with the amount of financial support for a single project not to exceed CNY 5 million. The Xicheng District Government will provide additional financial support equivalent to the amount.
(To be implemented by the Zhongguancun Science Park Administrative Committee and the Xicheng District Government)
5. Support the development of Fintech talents and provide high-quality services for introduction and training of talents
a) Open a green channel for the introduction of Fintech talents, and make personnel file management, social security continuation, work residence permit, APEC business card processing, etc. more convenient.
(To be implemented by the Xicheng District Government)
b) Integrate public resources such as medical treatment, education, and housing within the district. Actively establish public service platforms and professional teams. Provide high-quality and efficient services in medical treatment, school enrollment for children and residence to excellent talents within Fintech enterprises and professional service institutions.
(To be implemented by the Xicheng District Government)
c) Encourage financial science and technology talents to participate in the talent selection and commendation and talent projects at the national and municipal levels and organized by Zhongguancun Science Park Adminsitrative Committee and Xicheng District. Encourage outstanding talents to participate in the evaluation of professor-level senior engineers through the professional and technical title direct pass channel. Outstanding talents who have made important contributions to the district shall be rewarded in accordance with the Provisions of Xicheng District of Beijing in Supporting Independent Innovation of Xicheng Park of Zhongguancun Science Park.
(To be implemented by the Xicheng District Government)
d) Senior managers and core business backbones of assessed domestic key Fintech enterprises or professional service institutions may receive certain financial rewards. These rewards shall be given through comprehensive consideration of the business scale, market position, innovation capabilities, and comprehensive contributions of Fintech enterprises or professional service institutions to the development of the Demonstration Zone. Rewards shall be given to outstanding talents from well-known foreign-funded Fintech enterprises or professional service institutions, and support will be provided for the gathering and development of international outstanding Fintech talents.
(To be implemented by the Xicheng District Government)
6. Support domestic and international exchanges and cooperation in the financial and scientific and technological sectors, and create an open environment for financial and scientific and technological development
a) Support Fintech enterprises in international Fintech cooperation. Support enterprises, top universities, and institutions overseas as well as global top 500 enterprises in jointly carrying out activities such as the introduction, R&D, and commercialization of financial technologies, organizing activities including international Fintech industry and technology forums and seminars, and participation in important international exhibitions and conferences overseas. Encourage the construction of a space to promote cooperation and innovation exchanges between Beijing and other key international Fintech cities. Attract Fintech enterprises and professional service institutions to settle in. Promote business exchanges among foreign financial institutions, Fintech enterprises, and relevant domestic institutions.
(To be implemented by the Zhongguancun Science Park Administrative Committee and the Xicheng District Government)
b) Those who have obtained financial support from national and municipal international exchanges and cooperation projects will be granted additional financial support from the Xicheng District Government equivalent to half of the received funds, up to a maximum of CNY 500,000. Those who jointly build laboratories with international scientific research institutions and colleges, undertake international professional exhibitions and exchange activities, and set up new R&D and business branches overseas will be given a one-off reward of no more than CNY 150,000, CNY 100,000, and CNY 50,000 respectively.
(To be implemented by the Xicheng District Government)
c) Support Fintech enterprises and professional service institutions in hosting or undertaking entrepreneurial competitions, festivals, and other activities possessing national and international influence by granting financial subsidies for field fees, construction fees, equipment rental fees, and other expenses, equivalent to 50% of the actual investment. The supporting amount for an individual institution shall not exceed CNY 3 million.
(To be implemented by the Zhongguancun Science Park Administrative Committee)
d) Support Fintech enterprises and professional service institutions in carrying out theoretical research on Fintech innovation and development, and issue reports on cutting-edge financial technologies and industrial development. Fintech Innovation Award will be set up. Support independent and controllable demonstration applications of new generation IT, Internet, and other cutting-edge technologies. Advocate for safe and green financial services. Support the selection of Fintech innovation application scenario of the year. Achievements in theoretical research and award-winning application scenarios shall be both commended and rewarded.
(To be implemented by the Xicheng District Government)
7. Support Fintech enterprises in multi-channel financing, and strengthen services for public listing and financial support for Fintech enterprises
a) Utilize the guiding functions of the Beijing Science and Technology Innovation Fund and the Xicheng District Government Industrial Investment Fund to their full extent. Establish the Beijing Fintech Industry Investment Fund with social capital to focus on Fintech and invest in Fintech enterprises.
(To be implemented by the Xicheng District Government)
b) Improve the joint mechanism of service and cultivation for public listing and quotation of enterprises in the Demonstration Zone, and provide support and assistance in key links of enterprise restructuring. Optimize the workflow, strengthen in-process service, and improve work efficiency of issuing required supporting documents for enterprises to be listed.
(To be implemented by the Xicheng District Government)
Increase funding support for public listing of Fintech enterprises. Fintech enterprises that are listed on the main board, the SME board, and GEM for the first time may apply for CNY 3 million in special support funding after passing the tutoring acceptance of Beijing Securities Regulatory Bureau, submitting an IPO application, and obtaining an acceptance letter from CSRC. If the initial public offering of shares is completed upon the approval of issuance by CSRC, another application may be made for a further CNY 3 million in special support funding.
Fintech enterprises that have successfully listed their initial public offering shares in the overseas capital markets recognized by the district government may apply for CNY 6 million in one-off special support funding.
Fintech enterprises successfully quoted by NEEQ will go through a comprehensive index quantitative scoring according to the market stratification, business development，and regional contribution of the enterprises, and may receive special funds totaling up to CNY 1.5 million.
Fintech enterprises (including those listed on the "New Third Board" and HKEX) that are successfully listed on domestic and foreign capital markets recognized by the district government and quoted by NEEQ may apply for special supportive funding by referring to the domestic and foreign listing incentive standards to make up the difference.
Fintech enterprises listed on the main board, the SME board, and GEM may apply for special supportive funding according to the incentive standards for domestic listing to make up the difference.
Fintech enterprises listed on domestic and foreign capital markets recognized by the district government and relocating their registration and tax payment to Xicheng District may apply for subsidies for office space purchasing and renting, up to a maximum of CNY 6 million.
With the approval of CSRC, non-listed Fintech enterprises may acquire listed companies in other places through M&A and restructuring, and relocate registration and tax payment for listed companies into Xicheng District. They can apply for special supportive funding by referring to the listing incentive standards of Xicheng District at home and abroad.
(To be implemented by the Xicheng District Government)
8. Support the gathering of high-end elements, and encourage the development of professional services system for Fintech incubation, acceleration and collaborative innovation
a) Support Fintech enterprises and professional service institutions in building a hard science and technology incubation platform. Provide enterprises with professional services such as product research and development, inspection and testing, industrial docking, etc. Over three consecutive years, financial support equivalent to no more than 30% of the total investment in equipment purchase, rent, research and development, loan interest, information system construction, platform operation, and other projects will be granted, up to a maximum of CNY 30 million.
(To be implemented by the Zhongguancun Science Park Administrative Committee)
b) Support Fintech enterprises in building infrastructure platforms such as Internet credit information, data transaction, and industry early warning and monitoring in the Demonstration Zone around key links such as supervision, credit investigation, payment, data, and transaction. Improve the Fintech application environment. Financial support equivalent to no more than 50% of the platform construction and operation cost will be granted, with not more than CNY 5 million in financial support amount for an individual platform.
(To be implemented by the Zhongguancun Science Park Administrative Committee)
c) Identified incubation and acceleration bases of high-tech industries in Xicheng District may receive special supportive funding to support the construction of public services and encourage independent innovation of resident enterprises. The total annual support for a single base shall not exceed CNY 8 million.
(To be implemented by the Xicheng District Government)
d) Encourage Fintech institutions to open and share financial big data, and provide basic support to Fintech innovation. Encourage third-party credit investigation and credit evaluation institutions to establish a unified credit investigation system to provide more convenient credit evaluation services to individuals and institutions. Promote the application of new generation Internet technology in information security, law, finance, intellectual property, human resources, and other professional services. Approved application demonstration projects in the above areas will be granted a subsidy of not more than CNY 500,000.
(To be implemented by the Xicheng District Government)
9. Support the quality and efficiency improvement of buildings in the Demonstration Zone
a) Support the upgrading of hardware facilities of key buildings for the development of Fintech and professional services in the Demonstration Zone. Support green, friendly and intelligent space transformation. Renovate and upgrade existing buildings in terms of functions, supporting civil and business facilities, building quality and environment, and transform them into a space suitable for innovation and development of Fintech and professional services. Funding subsidies will be given to renovation and upgrading projects in the core area and covering an area of 3,000 square meters and above, equivalent to a maximum of 30% of the total renovation investment of the project. The subsidy amount for a single project shall not exceed CNY 1,000 per square meter, and the maximum subsidy shall not exceed CNY 50 million. For other buildings, Xicheng District Measures for Promoting High-Quality Development of Building Economy shall apply.
(To be implemented by the Xicheng District Government)
b) Support building investors or operators (building owners or property managers) in the Demonstration Zone to invite and introduce Fintech enterprises. Based on the regional comprehensive contribution of the buildings in the previous year and according to their incremental comprehensive contribution in the current year, building operation entities may receive a financial reward equivalent to no more than 10% of the increment, up to a maximum of CNY 10 million.
(Implemented by the Xicheng District Government)
10. Open green service channels for Fintech enterprises and professional service institutions, and further optimize business environment
a) Make public the entry standards and audit mechanisms for resident enterprises in the Demonstration Zone. Optimize the service process, shorten time for processing, and strengthen online processing and convenient services in regards to registration, tax declaration, social insurance payment, and other links.
(To be implemented by the Xicheng District Government)
b) Establish a service office for the Demonstration Zone, coordinate relevant authorities for industry and commerce, taxation, statistics, etc., and assign dedicated service staff for each enterprise to ensure standard, professional and full-process green channel services from registration to residence. Implement the surrogate system for key Fintech enterprises and professional service institutions to provide precise services and efficiently solve various issues during their development.
(To be implemented by the Xicheng District Government)
c) Provide personalized, accurate, and considerate services to enterprises through the service mode of "service card, model plate, barometer, clean and clear meeting, and honor list" .
(To be implemented by the Xicheng District Government)
11. Xicheng District People's Government, Administrative Committee of Zhongguancun Science Park, and Beijing Financial Street Services Bureaus shall be accountable for the interpretation of their respective provisions, and the rules for implementation shall be formulated separately. New national and municipal regulations if any shall prevail. In case of similar district-level policies available, eligible enterprises may choose to apply for but one of the applicable provisions, with no reduplicated benefits permitted.
The Measures is to be implemented as of December 8, 2018, for a term of three years.