Financial synergy in the integration of Yangtze River Delta

 2019-09-12  1288


As the Yangtze River Delta region prepares to become a world-class city cluster for scientific and technological innovation, according to Shanghai Nuodi Law Firm, not only a large number of science and innovation projects are about to be implemented, but also there is a huge engineering construction demand for environmental protection, infrastructure facilities, culture, education, science and health development. Numerous construction projects are inseparable from the investment of financial resources.Therefore, the Yangtze River Delta region should also better provide blood for the high-quality integration of the Yangtze River Delta through financial coordination.

                                                                             

Therefore, in December 2018, the People's Bank of China(central bank)took the lead in carrying out special investigations and studies. After fully understanding the situation, the central bank made an investigation report on Suggestions on High-quality Integrated Development of Financial Services in the Yangtze River Delta region, and put forward 42 feasible Suggestions. In April 2019, the Shanghai headquarters of the People's Bank of China worked closely with the Nanjing branch, Hangzhou branch and Hefei branch to officially launch the "High-quality Integration Development Cooperation Mechanism of Financial Services in the Yangtze River Delta". At present, 1 task has been completed, 4 tasks have entered the specific implementation stage, and 7 tasks have entered the start-up stage. At the present stage, five achievements have been made.

 

First, the Yangtze River Delta region financial consumption disputes non-litigation settlement mechanism formally implemented.

The second is to establish the Yangtze River Delta economic and financial data sharing mechanism.

The third is to formulate four plans for the coordinated supervision of credit investigation agencies: Establish a coordinated and unified supervision system to promote the standardized development of credit investigation agencies; Establish industry credit files and promote open information sharing; Strengthen institutional training exchanges and accelerate the cultivation of credit investigation market in the four regions;Give play to the role of self-regulatory organizations and jointly maintain the order of the industry.

The fourth is to formulate the work plan of "extending the scope of enterprises supported by refinancing and rediscount to other areas in the Yangtze River Delta".

Fifth, the establishment of the Yangtze River Delta region anti-counterfeit currency, anti-money laundering and other areas of regulatory cooperation mechanism.

The rest of the work is proceeding steadily and orderly.

If you are interested in investing in China, please feel free to contact Shanghai Nuo Di Law Firm.