Beijng’s Xicheng District Allocates 150M Yuan to Fintech Sector Support


The Beijing district of Xicheng has flagged further support for the development of its local fintech sector in 2020.

Sun Shuo (孙硕), district head of Xicheng district, said that this year would see the completion of the upgrade and refurbishment of 100,000 square metres of office space in the jurisdiction’s “Fintech New Area.”

Xicheng district will accelerate the deployment of fintech-related policies and efforts to support the development of fintech enterprises, with a budget of 150 million yuan allocated to the first batch of new fintech enterprises and specialist service institutions.

Sun made the remarks on 13 January at a press conference held as part of Beijing municipality’s 15th People’s Congress.

In the second half of 2019 the Beijing mu­nic­i­pal gov­ern­ment announced the launch of the Bei­jing Fin­tech Re­search In­sti­tute (北京金融科技研究院) in Xicheng’s Be­jing Fin­tech and Spe­cial­ist Ser­vice In­no­va­tion Demon­stra­tion Dis­trict (北京金融科技与专业服务创新示范区), with the goal of fos­ter­ing “re­source in­te­gra­tion, tech­no­log­i­cal shar­ing, and re­search and de­vel­op­ment break­throughs.”

Ac­cord­ing to pub­licly avail­able data the re­search in­sti­tute is a “pri­vately run non-en­ter­prise en­tity” sit­u­ated at 63 Nan­caochang in Xi­cheng. 

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