13 June 2025
On 13 June 2025, the Management Committee of Guangzhou Development Zone and the People’s Government of Huangpu District of Guangzhou Municipality (“the authorities”) issued the “Notice of Issuing Several Measures for Strengthening the High-quality Development of Financial Services for the Real Economy in Guangzhou Development Zone (Huangpu District)” (“the Measures”). The authorities announced that headquarters and specialised subsidiaries of licensed financial institutions such as commercial banks, securities companies, public fund management companies, and insurance companies, that are newly established and have actively engaged in business activities, with a paid-in registered capital of RMB 100 million or more, shall be provided with a startup support fee at rates of 1% and 0.5% of the paid-in registered capital at a maximum of RMB 20 million and RMB 15 million, respectively. These Measures shall be effective until 17 June 2028.