Shenzhen has issued five documents to bolster the development of the city’s financial industry, according to the latest issue of the government gazette released Wednesday, the Shenzhen Economic Daily reported.
The city has proposed to beef up the support of high-level and much-needed financial talents through a number of programs aimed at allocating vocational training resources for financial talents at all levels and providing funds to help them continuously improve their professional expertise.
The leading talents promotion program plans to select 100 promising and high-end financial professionals every year and provide them with specific research projects. Meanwhile, a fund of up to 50,000 yuan (US$7,362) per person per year will be granted to these talents.
A key talents cultivation program selects 1,000 key talents in areas such as fintech and financial transactions each year and offers them relevant resources for further study. Each talent will be granted a subsidy of up to 10,000 yuan per year.
A young talents support program chooses 10,000 young financial professionals and provides them with mini lectures, seminars, public courses and other resources to help them improve their expertise.
Shenzhen will also carry out talent training and exchange programs with global financial centers, such as New York, London and Hong Kong, every year.
It will select 100 financial talents in batches and send them to these cities for study and training. Up to 100,000 yuan will be granted per person per year.
In a separate development, the annual Hurun New Finance Report, which has been tracking the latest developments of enterprises and entrepreneurs in the new finance sector in China since 2016, was also released Wednesday, the Daily reported.
Ten Shenzhen financial companies are in the top 50: Baihang Credit Co. Ltd., CredEx Fintech, Lexin Fintech Holdings Co. Ltd., Shenzhen Qianhai Credit Center Co. Ltd., WeBank, Suishou Technology Co. Ltd., Shenzhen X Financial Co. Ltd., Merchants Union Consumer Finance Co. Ltd., Zhongan Insurance and Tencent Financial Technology.