To implement the guiding principles of documents such as the “Notice of the People’s Government of Fujian Province on Issuing Several Measures to Promote the Accelerated Development of the Financial Sector in Fujian Province” (Min Zheng [2021] No. 13), further deepen industry-finance integration, promote the continuous optimization of the business environment, improve the financial support policy framework, attract high-quality financial resources, enhance the ability of the financial sector to serve the real economy, and promote better financial support for the high-quality development of Quanzhou, the following measures are formulated in light of the city’s actual conditions:
I. Incentive and Subsidy Support Measures
(1) Encouraging the Introduction of Various Financial Institutions
1. Newly established or newly introduced local legal-person financial institutions, as well as specialized and functional branches of financial institution headquarters. In accordance with the “Several Measures of Fujian Province to Promote the Accelerated Development of the Financial Industry,” starting from 2021, local legal-person financial institutions newly established in Quanzhou with approval from central financial regulatory authorities will be granted a settlement incentive equivalent to 3% of their paid-in capital, with a total amount not exceeding 50 million yuan;Specialized institutions such as credit card centers, small business credit centers, private banking departments, bill centers, fund operations centers, and precious metals business departments—approved by central financial regulatory authorities and registered in Quanzhou—shall receive a one-time settlement incentive of 500,000 yuan; functional departments of national-level banking, securities, and insurance institutions’ headquarters, such as big data centers, technology R&D centers, and call service centers, shall receive a one-time settlement incentive of 500,000 yuan.
2. Banking institutions upgraded to the level of direct management by the head office, and insurance institutions upgraded to the level of direct management by the parent company, shall receive a one-time incentive of 1 million yuan.
3. A one-time incentive of 500,000 yuan will be granted to newly established municipal-level branches of banking institutions; a one-time incentive of 500,000 yuan will be granted to newly established municipal-level companies in the insurance sector.
4. A one-time reward of 300,000 yuan will be granted to business representative offices of foreign financial institutions newly established in the city; if a representative office is upgraded to a branch, an additional 200,000 yuan will be awarded.
(II) Strengthening Credit Support
1. Improve the quality and efficiency of financial services for private enterprises and small, medium, and micro enterprises. Conduct evaluations of banking institutions’ services to private enterprises and small, medium, and micro enterprises, establishing indicators such as credit disbursement to private enterprises, inclusive loans to small and micro enterprises, and first-time borrowers. Financial rewards will be granted to the top 10 banking institutions based on annual evaluation results.
2. Promote financial support for the rural revitalization strategy. Conduct performance evaluations of banking institutions’ services for rural revitalization, encouraging them to increase investment in rural revitalization projects such as agriculture, forestry, animal husbandry, and fisheries; rural infrastructure construction; new types of agricultural business entities; and mortgages secured by rural contracted land management rights and forest rights. Banking institutions rated “excellent” in the evaluation will receive a reward of 200,000 yuan.
3. Encourage innovation in financial products and services. Guide financial institutions, various new types of financial organizations, quasi-financial institutions, and financial service intermediaries to continuously advance financial innovation, strive to improve the convenience of corporate financing, better serve the real economy and people’s livelihoods, promote technological innovation, and support green development. Financial institutions with significant achievements will be rewarded, with a focus on financial innovation projects that support the development of small and micro enterprises and the manufacturing sector.
4. Support the development of supply chain finance. Cultivate and develop supply chain platforms; support banking institutions in conducting accounts receivable financing through platforms such as the China Credit Information Service; and promote online supply chain finance services. Provide grants and subsidies to leading enterprises, supply chain platforms, or financial institutions engaged in supply chain finance operations.
5. Promote the development of green finance. Facilitate financial support for carbon peaking and carbon neutrality, drive the green transformation of regional economic growth models and green technological innovation, and provide awards and subsidies to leading enterprises or financial institutions engaged in green finance and carbon finance operations.
(III) Improve the Comprehensive Evaluation System
1. Improve the comprehensive evaluation system for financial institutions in Quanzhou. Establish a comprehensive evaluation index system based on a 100-point scale to conduct categorized evaluations of banking and insurance institutions regarding their support for Quanzhou’s economic development, service to the real economy, fulfillment of social responsibilities, and implementation of risk prevention and control measures. Based on the comprehensive evaluation scores of banking and insurance institutions, rank those with outstanding performance and grant rewards accordingly.
2. Improve the incentive mechanism for financial regulatory authorities. Evaluate financial regulatory authorities based in Quanzhou on their implementation of central and provincial financial policies, cooperation with local governments, and their support, guidance, and services to financial institutions in Quanzhou in conducting business in accordance with laws and regulations. Provide corresponding financial subsidies based on the completion of these tasks.
(IV) Regulate the Development of Local Financial Organizations
Promote the prudent development of local financial organizations. For financing guarantee companies that provide loan guarantees to small, medium, and micro enterprises as well as entities in the agriculture, rural areas, and farmers sectors, a risk compensation of 8‰ of the average daily guaranteed liability balance for the current year will be provided. Specifically:county-level financing guarantee companies will receive a 3‰ subsidy from the municipal-level treasury and a 5‰ subsidy from the county-level treasury. For financing guarantee companies with an annualized guarantee fee rate of 2.5% or lower, the difference between their actual fee rate and the 2.5% benchmark will be subsidized by the corresponding level of government at 50%. The guarantee fee rate for government-backed financing guarantee companies shall, in principle, not exceed 2%, and such rates shall be gradually reduced. The maximum subsidy from the municipal-level treasury for any single financing guarantee company shall not exceed 1 million yuan.
(5) Encouraging the Development of New Direct Financing Channels
1. Eligible enterprises are encouraged to revitalize existing assets and optimize their capital structure by issuing Real Estate Investment Trusts (REITs) in the infrastructure sector. Enterprises in our city that successfully issue infrastructure REITs products will receive a subsidy equal to 50% of their actual intermediary fees, up to a maximum of 3 million yuan.For additional fiscal contributions generated by enterprises due to increased valuations of land, real estate, and equipment, or changes in equity resulting from the issuance of infrastructure REITs products, the beneficiary local government shall provide a reward equivalent to 50% of the local retention portion.
2. Support eligible enterprises in raising funds through overseas bond issuances. Non-listed enterprises that successfully issue overseas bonds for the first time will receive a subsidy of 1.5 million yuan to cover intermediary fees.
(6) Supporting the Development of the Equity Investment Industry
Equity investment enterprises (with paid-in capital of no less than 20 million yuan) and equity investment management enterprises (with paid-in capital of no less than 2 million yuan) that are based in Quanzhou or have relocated to the city from outside the municipal area, and that have successfully registered or filed with the China Securities Investment Fund Association, may enjoy the following policies:
1. Investment Incentives. Equity investment enterprises and equity investment management enterprises that invest in Quanzhou’s non-listed enterprises for two years or more, and whose total investment in such enterprises exceeds 20 million yuan in the year of investment, shall receive a reward from the municipal government equivalent to 0.5% of the total equity investment received by the investee enterprise in that year, with the total annual reward not exceeding 10 million yuan.
2. Contribution Incentives. Starting from the date an equity investment enterprise or equity investment management enterprise pays its first corporate income tax in Quanzhou, the beneficiary fiscal authority will provide an incentive equal to 80% of the local portion of its annual fiscal contribution for a period of five years.
3. Office Space Subsidy. Equity investment enterprises and equity investment management enterprises that purchase newly constructed properties in our city for the first time for their own office use and commit to not leasing or selling them to third parties for five years shall receive a subsidy from the relevant fiscal authority equivalent to 3% of the purchase price of the property. This subsidy shall be paid in equal installments over five years, with a cumulative maximum of 2 million yuan;For self-used office premises with a lease term of 3 years or more, provided the entity commits not to sublease the premises during the subsidy period, the municipal government will provide a subsidy of 20% of the annual rent for 3 consecutive years, with a cumulative maximum of 500,000 yuan. Equity investment enterprises and equity investment management enterprises applying for the office space subsidy must have paid-in (or managed) capital in Quanzhou of no less than 200 million yuan.
4. Executive Incentives. Starting from the second year of employment, senior executives of equity investment enterprises and equity investment management enterprises shall receive an incentive from the beneficiary government equivalent to 50% of the local portion of their salary-related tax contributions from the previous year, for a maximum period of 6 years.
(VII) Optimizing the Financial Ecosystem
1. Improving Financial Infrastructure. Explore the development of the financial platform economy, promote the integration of fintech with government platforms, and utilize technological means such as big data and information technology to integrate information from market regulation, taxation, finance, and ecological environment sectors. This will provide big data support for the city’s financial services to the real economy, financial regulation, and risk prevention and control.
2. Strengthen Financial Public Education. Deepen the “Learn Finance, Understand Finance, Use Finance” campaign; allocate appropriate funds to support financial public education; and fully utilize various media and platforms—including television, radio, newspapers, and the internet—as well as new media such as WeChat and Weibo to disseminate financial knowledge, policies, and laws and regulations.
II. Application Guidelines
(1) For applications for settlement incentives, institutions must submit their applications to the Municipal Financial Regulatory Bureau by the end of March of the year following the year in which they received approval from financial regulatory authorities to officially commence operations or upgrade their status. Applications will be jointly reviewed by the Municipal Financial Regulatory Bureau, the Municipal Finance Bureau, the People’s Bank of China Quanzhou Central Branch, and the Quanzhou Branch of the China Banking and Insurance Regulatory Commission.If an eligible institution fails to apply for the incentive funds within two years from the date of receiving approval from financial regulatory authorities to officially commence operations or upgrade its status, the application shall be deemed late, and the institution shall be deemed to have automatically waived its entitlement; such entitlement cannot be retroactively claimed.
(2) For the following three categories—incentives for serving private enterprises and small, medium, and micro enterprises; incentives for supporting rural revitalization; and subsidies for intermediary fees related to the issuance of infrastructure REITs—the “automatic eligibility” principle applies, meaning financial institutions and enterprises need not submit separate applications.
(3) Institutions eligible for the settlement incentives under these provisions must submit relevant materials and commit to conducting financial business operations in this city for at least 10 years. If they relocate from Quanzhou within 10 years, all incentive funds received must be refunded in full.
(4) Institutions applying for rewards or subsidies must operate in compliance with the law and are responsible for the authenticity, completeness, and legality of the materials provided. If an institution fails to fulfill its obligations or uses fraudulent means to obtain preferential policies, its eligibility for support policies will be revoked upon discovery, or the rewards or subsidies already received will be recovered in accordance with relevant regulations.Financial institutions or enterprises whose legal representatives, actual controllers, directors, supervisors, or other senior management personnel have a history of dishonesty or involvement in organized crime or criminal activities shall not be eligible for any of the financial subsidies or support measures provided for in these regulations.
(5) For the introduction and pilot innovation initiatives of financial institutions that play a significant role in the economic and social development of our city, rewards or subsidies may be granted on a case-by-case basis.
(6) Where the preferential policies covered by these provisions overlap with other incentive policies issued by our city, the principle of “selecting the most favorable option without duplication” shall apply. The people’s governments of all counties (cities, districts), as well as the administrative committees of the Quanzhou Development Zone and the Quanzhou Taiwanese Investment Zone, may formulate and implement corresponding incentive policies by reference to these provisions.
III. Other Matters
These provisions shall take effect from the date of issuance and remain valid until December 31, 2026. Events occurring between January 1, 2021, and the date of issuance of this document that meet the eligibility criteria shall be included in the scope of rewards. The Municipal Financial Regulatory Bureau shall be responsible for interpreting these provisions. The “Several Opinions of the Quanzhou Municipal People’s Government on Encouraging the Development of the Financial Industry” (Quanzhou Government Document [2014] No. 71) is hereby repealed.
