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Authorities Approved Plan for Works of Financial Innovation in Dalian Free Trade Zone
2017-12-25

Editor’s note:

The 19th National Congress of the Communist Party of China has earmarked a new historical position for China’s development. It marks that the socialism with Chinese characteristics enters a new era. The whole nation is thrown into the drive of learning and implementing the spirits of the19th National Congress of the Communist Party of China.

The National People’s Congress of Jinzhou District (Jinpu New District), the Chinese People’s Consultative Conference of District (Jinpu New District), the enlarged meeting of CPC working committee of Jinpu New District as well as the 4th meeting of the 7th CPC committee of Jinzhou District which ended successively a short time ago make it clear that “accelerating the construction of an international, modern new city along the coast” is the objective of Jinpu New District in the next period.

Jinpu New District is facing a strategic opportunity in the golden age of development.

This is a new era.

This is a new starting point.

New era demands new atmosphere, and more importantly, actions – actions on the part of the people of Jinpu New District to implement the spirits of the19th National Congress of the Communist Party of China as well as the objective of “accelerating the construction of an international, modern new city along the coast”.

From today on, the newspaper opens a special column – “New Era, New Atmosphere and New Actions” for you to feel the “new pulsation” together with us in the new era. 

 

According to a report from Dalian Free Trade Office, the authorities approved the plan for works of financial innovation in Dalian Free Trade Zone several days ago.

The plan specifies the general principle, the chief target, the main tasks and concrete measures including supporting measures for works of financial innovation in Dalian Free Trade Zone.

According to the plan, the chief target is to build a financial city at Xiaoyaowan.

The plan specifies the general principle for works of financial innovation in Dalian Free Trade Zone: Financial services should serve the real economy, adhere to characteristic development and prevent financial risks.

 According to the plan, Jinpu New District plans to apply for building the district into the core area of the state-level demonstrative zone of financial innovation; Jinpu New District aspires to be an offshore RMB settlement center for Northeast Asia as well as a financial and shipping center in Northeast Asia; Jinpu New District plans to build  three trade platform: the international board of Dalian Commodity Exchange, the platform for exchange of equities and bulk commodities and an offshore financial center; Jinpu New District prioritizes development of four industrial sectors: shipping and financial center,financial leasing (factoring, supply-chain financing), venture investment & private equity fund (targeting mixed ownership reform of state-owned enterprises as well as mass entrepreneurship & innovation) and financial technology.

The plan also mentions five aspects which are significant to development of Jinpu New District:

a. developing market of financial elements;

b. broadening the scope for new types of financial business;

c. upgrading the ability of sustainable development of the financial sector;

d. facilitating cross-border use of RMB;

e. facilitating reform of management of foreign currency for cross-border investment or financing.