Ningbo to build unique Quantitative Finance Town

Yinzhou District has established a fund of funds of 102 million yuan, incorporating domestic industrial capitals and emerging financial modes like private fund, technological finance and internet finance. It was learned from Yinzhou Finance Office on August 27 that Yinzhou District together with Ningbo Municipality is working on the construction of a Quantitative Finance Town. A three-square kilometer financial circle will be completed by 2020, becoming a gathering place of capital, personnel and ecology.

Yinzhou District was granted a plaque as Ningbo Quantitative Finance Town on Ningbo Talents Working Conference a couple of days ago, marking the implementation period of building a Quantitative Finance Town.

Different from traditional investment methods, quantitative investment is not managed by individual sense but involves investment idea, experience and even one's intuition in quantitative mode. It needs computers to help human brains to deal with a great amount of information, summarize law of the market and come up with investment solutions that can be repeatedly used and constantly optimized in order to guide the decision-making of investment.

According to the preliminary conception, Ningbo Quantitative Finance Town will cover an area of three square meters and be located in the central part of Yinzhou District. It extends eastward and westward alongside Yinzhou Park, gets close to the Southern higher Education Zone to its east, extends westward to Fenghua River, connects Southern Business District to its south, and Wanda Business Circle to its north. It will mainly cover a business part including Yinzhou Financial Building, surrounding buildings, Southern Business District, buildings for personal use inside the park, technology and information incubation park and other areas to be constructed, and ecological and living part including Yinzhou Park, Tennis Center, Museum and Cultural Museum.

The town is expected to build a demonstration area for quantitative trade and a cluster area for entrepreneurship and investment. It is also aimed to attract over one thousand wealth management institutions like quantitative investment fund and angel investment fund with over one hundred billion yuan concerning management asset. Meanwhile, it will attract 20 high-end talent teams both at home and abroad to build a Alibaba in finance.

We'll try to complete the construction work by 2020 and achieve the goals we set. We will also try to double the tax contribution from financial circle from the previous year. said an employee from Yinzhou Finance Office.

Financial towns like Davos and Greenwich enjoy a great popularity in the world because they have a strong financial basis and improved financial system. What's the advantage of Yinzhou to build such a quantitative finance town?

Yinzhou boasts a solid foundation in financial industry. said Dai Guoxing, director of Yinzhou Finance Office. By June 2015, Yinzhou has achieved added value of 5.156 billion yuan, an increase of 25% from the previous year, broken through 190 billion yuan in outstanding of deposits of RMB and foreign currency which stands for No.1 in Ningbo. GDP per capita also exceeded 20 thousand dollars, ranking No.1 in Ningbo.

There are 132 registered investment institutions and 30 thousand enterprises of various kinds in Yinzhou including 1,653 enterprises which earn the annual revenue of more than 20 million yuan. SOEs stand for 95% of the economic entities. By the end of July this year, there were 16 list companies, of which 12 have raised fund of 11.509 billion yuan.

Meanwhile, Yinzhou also boasts the two most advanced and well-functioned cloud computing centers which can offer strong technological support to the construction of a financial town.

Chen Yijun, member of the Standing Committee of Ningbo Municipal Party Committee and secretary of Yinzhou District Party Committee, said that building a quantitative finance town and taking full advantage of capital market will help us attract a batch of financially competitive industries, transform and upgrade the real economy as well as strengthen Yinzhou's regional competitiveness.

LINK:	http://en.nbwh.gov.cn/art/2015/9/1/art_1325_74240.html...
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