Chengdu Development Zone Grants Fintech Subsidies to 240 Companies

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The Sichuan capital of Chengdu has ambitions to establish itself as an international fintech hub with the provision of subsidies to a slew of companies in the city’s hi-tech industrial zone.

Chengdu Daily reports that around 240 enterprises in the Chengdu Hi-tech Industrial Development Zone are benefiting from the municipality’s first round of fintech subsidies, with the total amount approaching 50 million yuan.

In September 2017 the “Several Policies of the Chengdu Hi-tech Industrial Development Zone in Relation to Accelerating the Establishment of an International Fintech Innovation Center” (成都高新区关于加快国际科技金融创新中心建设的若干政策) were released, while in mid-April of this year the authorities officially launched the first round of applications for fintech subsidies.

The Chengdu Hi-tech Industrial Development Zone is expected to launch the second round of fintech subsidy assessments in October 2018.

 

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