Finance is the blood of the real economy. Since the establishment of the Qingdao Area of China (Shandong) Pilot Free Trade Zone, QIECZ has been accelerating the implementation of pilot policies for innovation in financial sector, and fostering an industrial eco-chain for its innovative development. Thus numerous resources have been attracted to the Zone rapidly. 

QIECZ Branch of Bank of China, QIECZ Branch of Qingdao Rural Commercial Bank, Qingdao Aucma Equity Investment Management Co., Ltd., Three Gorges Green Industry (Shandong) Investment Management Co., Ltd., Qingdao Hailiangyulin Investment Co., Ltd.…These are a few of the 27 new financial companies entering the Zone in 2019, bringing the total number to 39, among which 2 are in banking, 1 is in insurance, 16 are in fund management. Eleven fund products and 9 investment companies have been established. 

An area of about 21 km2 in the Zone has been included in the FTZ, accounting for 40% of the Qingdao Area. While the FTZ cannot grow without strong finance, it is also a fertile ground for financial innovation.

“Financial institutions in the Area can enjoy supportive policies for further opening-up in finance by the FTZ, as well as incentives and subsidies in such areas as permanent residency, innovation, talent recruitment, etc. In this way, financial clusters in the Zone are taking shape rapidly.”

Going forward, the Zone will step up financial reform and innovation of the FTZ, and actively promote innovation-encouraging policies, foster a more enabling environment and conditions for innovation, facilitate investment and financing, so as to realize win-win outcomes for companies in the Zone and the whole region.