Reproducible and scalable, the 11th batch of financial innovation cases in Shanghai Pilot Free Trade Zone released

The Office of Shanghai Leading Group for Promoting the Construction of Shanghai International Financial Center (Municipal Local Financial Supervision Bureau) yesterday jointly with the Shanghai Headquarters of the People's Bank of China, the Shanghai Banking and Insurance Regulatory Bureau, the Shanghai Securities Regulatory Bureau, the Shanghai Branch of the State Administration of Foreign Exchange, and the Management Committee of the Pilot Free Trade Zone The conference (Pudong New Area Government) and the Lingang New Area Management Committee jointly held the press conference of the eleventh batch of financial innovation cases in the China (Shanghai) Pilot Free Trade Zone.

According to reports, since the pilot free trade zone was listed, ten batches of 130 financial innovation cases have been released, and the eleventh batch of financial innovation cases in the pilot free trade zone has released 30 cases, mainly from financial opening innovation, financial market innovation, and cross-border financial innovation. The six aspects of service optimization, financial support for key industries, innovation of green financial products and services, and optimization of the financial business environment have demonstrated that the financial opening and innovation fields of the Pilot Free Trade Zone and the Lingang New Area since June 2020 are pioneering, benchmarking, and sustainable. An important innovation for reference.

In terms of financial opening and innovation, focusing on the implementation of financial expansion and opening-up measures, and further building a financial opening hub portal, released 7 cases; in terms of financial market innovation, based on deepening the reform of the financial factor market, and continuously promoting the service level of Shanghai International Financial Center, 8 cases were released; in terms of cross-border financial services, 4 cases were released focusing on optimizing cross-border financial services and making good use of resources in both domestic and international markets; in terms of financial support for key industries, closely related to financial services for the real economy , actively supported the development of key industries such as technological innovation, and released 4 cases; in terms of green financial innovation, stimulated the innovation of green financial products and services, and built an international green financial hub, released 5 cases; in terms of financial business environment optimization, Focusing on building a high-quality financial business environment that is gradually in line with international standards, and enhancing the soft power of an international financial center, two cases were released.

The Shanghai Local Financial Supervision Bureau stated that facing the future, Shanghai will seize the major opportunities of the new round of financial opening and innovation in the Shanghai Pilot Free Trade Zone and the Lingang New Area, and deepen the joint development of financial opening and innovation in the Pilot Free Trade Zone and Shanghai International Financial Center. Efforts will be made to create more replicable and scalable innovations for the country to deepen financial reforms and serve the real economy, jointly set off a new wave of financial opening and innovation pilot work, and promote better financial services to build a new development pattern.

Author: Tang Weijie

Editor: Zhu Wei

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