Lin-gang Special Area of Shanghai FTZ launches 50 measures for financial opening-up

Lin-gang Special Area of China (Shanghai) Pilot Free Trade Zone (FTZ) unveiled 50 measures on Friday to facilitate its financial opening-up, reported China Securities Journal.

The measures, covering five areas including opening-up of finance, financial innovation, financial system building, real economy development and service guarantees, were co-released by Lin-gang Special Area Administration, Shanghai Head Office of the People's Bank of China, Shanghai Office of China Banking and Insurance Regulatory Commission, Shanghai Securities Regulatory Bureau and Shanghai Municipal Financial Supervision and Administration Bureau.

According to the measures, Lin-gang Special Area will strive to attract more high-quality foreign financial investments, support the financial reform and innovation and improve the risk stress management.

In addition, Lin-gang Special Area will accelerate to build more financial institutions with strong allocation capability for both foreign and domestic financial resource. It's also expected to further facilitate the development of real economy and build the personalized service guarantee system, supporting those financial institutions in the area.

Focusing on the financial innovation, the liberalization of cross-border capital flows, and the high-quality development of the real economy served by financial institutions, more measures will be introduced in the future by Lin-gang Special Area to facilitate its financial opening-up, according to Wu Wei, vice director of Lin-gang Special Area Administration.