16家金融机构与临港新片区签约设立分支机构 - 2019年09月24日

Sixteen financial institutions, including the Big Four and Shanghai Stock Exchange, signed agreements with the Lingang authority on Friday to establish branches in the new area of the Shanghai free trade zone.

The Shanghai headquarters of the People’s Bank of China, China’s central bank, said at the signing ceremony “it would actively support the construction of the new area, the implementation of central government’s policies and measures to expand financial openness, particularly their initiation in Lingang.”

At the same time, a number of incentives were issued to support the development of Lingang’s financial sector. The new policies will help financial institutions provide cross-border services for enterprises and non-residents in the new area, such as cross-border bond issuance, cross-border investment, mergers and acquisitions, and centralized operation of cross-border funds, on the premise of compliance with the law and controllable risks and international prevailing rules.