Shanghai has unveiled new policies to further support the growth of the Lin-gang Special Area, which has developed continually since its inception in 2019. These policies encompass 50 measures across five key areas, focusing on financial innovation, two-way opening-up in the financial sector, serving the real economy, fostering a sound business environment, and improving safeguard measures. Below are further details on the five areas:

1. Establishing a stress testing area for financial risk assessment

This includes measures such as aligning with international high standards, deepening facilitation of cross-border trade and investment, and establishing risk control capabilities to support the Lin-gang Special Area in enhancing innovation of its financial systems and further deepening reforms in the financial sector.

2. Creating a new hub for high-end resource allocation

This includes focusing on advancing institutional opening-up through construction of major platforms, introducing more foreign investment institutions and capitals, and encouraging more domestic companies to "go global" to enhance their international competitiveness.

Support will be provided to accelerate two-way opening-up in the financial sector in the Lin-gang Special Area and build a development pattern of "one city, one belt, one bay", which involves the building of the Lujiazui Financial City, the Financial Concentration Belt of the Bund, and the Dishui Lake Financial Bay.

3. Building a demonstration area for innovative integration of industry and finance

This includes providing support for equity financing throughout the life cycle, expanding diversified financing channels, and reducing the overall costs of small and medium-sized enterprises. This will further enhance financial services for the real economy in the Lin-gang Special Area and improve the quality and efficiency of financial service supply.

4. Fostering an environment for financial service aggregation

This includes measures to attract financial institutions and talents to build a sound business environment. Support will be granted to create an equity investment cluster in the Lin-gang Special Area to attract a number of high-quality equity investment resources from home and abroad. Insurance companies within the area are encouraged to build a new model of health services in line with international standards, innovate high-end medical insurance products, and launch one-stop flexible employee benefits solutions.

5. Improving safeguard measures

This includes improving institutional setup, strengthening training and publicity work, and enhancing implementation safeguards to provide support for the high-level opening-up and high-quality development of the financial sector in the Lin-gang Special Area.