On August 29, the Office of Financial Work of Nansha (Guangzhou) issued the Interim Measures for Promoting Development of Financial Leasing Industry in Nansha (Guangzhou) (Revised in 2016) (hereinafter referred to as the Revised Draft) for collecting public opinions.

 

The Revised Draft said that newly established, relocated and already established financial leasing enterprises (including financial leasing enterprises as financial institutions, and foreign-invested and domestic-invested financial leasing enterprises as non-financial institutions) with registered capital of more than RMB200 billion (or equal amount of other currencies) calculated on basis of paid-in capitals will be deemed as headquarters enterprises and provided with corresponding support in the forms of rewards for business establishment and contribution to local economic and social development as well as subsidies for office purchasing or renting and introduction of talents in accordance with relevant policies of Nansha New Area for development of headquarters economy.

 

Other financial leasing enterprises not identified as headquarters enterprises or those not enjoying the policies on headquarters economy, including special purpose vehicles (SPVs), will be encouraged to settle down at the financial leasing cluster in Nansha New Area and provided with policy support for related businesses. Financial leasing enterprises that are based in Nansha to provide financial leasing services or purchase equipment for the enterprises in Nansha will be provided with subsidies that will not be more than 0.5% of the contract amount. For single project, the subsidy may be up to RMB5 million.

 

In addition, subsidies for introduction of talents and purchasing or renting offices will be provided for the financial leasing enterprises, and a reward of not more than RMB3.5 million will be granted by Nansha District to listed financial leasing enterprises.

 

Source: Translated from Invest Guangzhou, August 31, 2016