Forty-two Policies on Shanghai's Financial Services

Shanghai held a conference on supporting economic transformation with better financial services on July 19, 2010

In 2013, Shanghai municipal government fostered the Scheme of Implementing the Guiding Opinions of the General Office of the State Council on Providing Financial Support for the Adjustment, Transformation and Upgrading of the Economic Structure, putting forward 42 measures related to coordination, optimization, and innovation.

The measures mainly cover the following aspects: (ⅰ) to expand financing channels, to promote the construction of a financial services platform for small and micro-sized enterprises, and to optimize credit risk compensation policies for small and micro-sized enterprises; (ⅱ) to guide insurance capital to flow into the reconstruction of older urban areas; (ⅲ) to promote government investment in financing guarantee companies, boosting the guiding role of government funds; (ⅳ) to optimize risk compensation policies on commercial financing guarantee companies’ compensatory obligations; (ⅴ) to actively facilitate and conduct research on policies, exploring the establishment of investment funds for domestic and overseas mergers and acquisitions; and (ⅵ) to issue Treasury bond futures at the appropriate time.

These measures, after implementation, have greatly accelerated the adjustment, transformation and upgrading of Shanghai’s economic structure.