Ningbo Financial Industry Development Planning Released

Recently, Ningbo Municipal Government officially released Ningbo Financial Industry Development Planning of the 13th Five Year Plan (thereinafter referred to as the planning). According to the planning, Ningbo will establish an internationalized, innovative and influential regional financial center based on the objective of Three Zones, Two Centers , namely, the National Comprehensive Pilot Zone of Insurance Innovation, the Comprehensive Demonstration Zone of Inclusive Finance, the Advanced Zone of Industry-Finance Integration, the Belt and Road Marine Finance Innovation Service Center and the Special Wealth Management Center.

By 2020, the assets of the whole financial industry should have reached 3 trillion yuan with local corporate financial institutions amounting to 58, private-offered fund management organizations 400 and listed enterprises on Ningbo Equity Exchange Center 1500. The total amount gained by social financing should have registered 180 billion yuan, domestic and foreign listed enterprises should have reached 100 and the premium income should have been 50 billion yuan. What's more, the added value of the emerging financial industry should have accounted for 30 per cent that of the financial industry and the united open platform of government data should have been basically set up.

The planning demands that Ningbo hold fast to the opportunities brought by the national promotion of financial reform and opening-up, soundly establish the National Comprehensive Pilot Zone of Insurance Innovation and actively distinguish itself to be the pilot area of multiple financial innovations. Financial opening up will be accelerated to achieve the internationalization of financial resource distribution. The emphasis will be laid on special finances such as marine finance, shipping finance, logistics finance, trade finance, offshore finance, etc. New business modes in financial industry should be agglomerated and developed to enrich the market with more products. Advancing the financial industry should go in line with serving local economy, the capital of Yangtze-River-Delta city cluster should be aggregated to form an industrial chain of investment and financing, a new-type financial supporting system should be established to promote changes of economic development pattern and an effective combination should be realized between financial capital and real economy.

In the future, Ningbo should pay equal attention to financial innovative reform and financial risk control, in order to protect financial ecology and credit environment as well as ensure financial safety and stability. The planning proposes that Ningbo, with an open, intensive and inclusive development pattern, promote the formation of a financial industrial layout characterized by One Core, Three Belts, Various Pilot Zones . The move should be based on the development positioning of building regional financial centers and combined with the foundation of financial industry and the requirements in aggregating financial institutions.

One core refers to East New District Financial Core Area; three belts represent three demonstration belts respectively of marine finance, industry-finance integration and rural finance; as for the objective of various pilot zones, Ningbo should take advantage of its industrial base and functional business modes, establish a batch of special financial clusters to provide tailored financial services for industrial development and prioritize the layout of various financial innovation pilot zones.

LINK:	http://en.nbwh.gov.cn/art/2017/1/10/art_1325_91988.html...
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