| Magnates Coming from Everywhere to Settle into CBD |
| 3/1/2006 1:1:0 Beijing CBD |
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Financial Institutions Quickening Their Steps to Gathering Together Here
On the afternoon of 28th, February, Tong Keke, the vice-governor and the spokesman of the government of Chaoyang District as well as the director of CBD Regulatory Commission, has officially issued¡°The Enforcement Opinions by Beijing CBD Concerning the Implementation of ¡®Opinions on Facilitating Capital's Development of Financial Industry¡¯¡±, which signifies that the financial chamber of Commerce of Beijing CBD would from that day on accept declaring materials concerning the favorable policies to financial enterprises. It also means that financial institutions both at home and abroad are quickening their steps to gather in the functional area of CBD. 40 domestic and international financial institutions have attended the press conference, including the members of the chamber of commerce such as Bank of Montreal, HSBC, American International Assurance Company, Calyon, US-China Trade Organization, Samsung Airchina Life Insurance, Hang Seng Bank, Pacific Century Insurance, the sales department of China Development Bank and the Bank of Beijing as well as Aviva-cofco Life Insurance Co, Ltd, Citibank and China International Capital Corporation.
According to the practical situations of Chaoyang District and CBD, ¡°The Enforcement Opinions¡±has made the qualifications, proceedings and application procedures for these encouragement regulations in The Detailed Enforcement Rules?more concrete. More detailed stipulations have been added to the relative articles in The Enforcement Opinions?and The Detailed Enforcement Rules? which CBD and Chaoyang District can refer to and implement, e.g. the fourth article tive one-time fund subsidy to these financial enterprises, which have been newly established or newly moved into CBD¡°.Specifically speaking, a subsidy of 10 million RMB is given to an enterprise with a registered capital of 1 billion RMB or above; in this way, 8 million RMB is given to that with a registered capital between 0.5 (0.5 included) to 1 billion RMB£»5 million RMB is given to that with a registered capital between 0.1 (0.1 included) to 0.5 billion RMB. The fifth article tinancial enterprises can enjoy a subsidy for purchasing or renting a house. A one-time subsidy of 1,000 RMB/per square meter is granted to buy an office housing for own use; a three-year renting subsidy is granted to rent an office at the standard of 200 RMB/per square meter one year. The Enforcement Opinions?has made a detailed stipulation on such issues as the schooling of executives' hildren in financial enterprises. This policy applies to these financial enterprises which have registered to do business in Beijing CBD and have an independent legal entity. The other enterprises, having made great contributions to the development of international financial industry in Beijing CBD, can be sanctioned to carry out this policy.
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