Action Plan for High-Quality Development of Pudong New Area as a Benchmark FinTech Cluster

To all government departments, administrative bureaus, management committees, directly affiliated enterprises, subdistrict offices, and town governments:

The “Action Plan for High-Quality Development of Pudong New Area as a Benchmark FinTech Cluster” has been approved by the district government and is hereby issued for implementation.

Action Plan for High-Quality Development of Pudong New Area as a Benchmark FinTech Cluster

To implement municipal requirements for advancing Shanghai as a global FinTech hub, leverage the policy advantages of the Shanghai Pilot Free Trade Zone and the comprehensive reform demonstration zone, build a FinTech industrial cluster, promote cutting-edge research and application scenarios, and enhance financial services for the real economy, this action plan is formulated to establish Pudong New Area as a benchmark FinTech cluster.

1. Cultivating and Attracting Leading FinTech Enterprises

Aim to nurture and attract internationally renowned FinTech enterprises within three years, driving digital transformation in finance through technological empowerment. Provide tailored support packages for benchmark enterprises, including government services, application scenarios, financing, talent development, and branding. Encourage enterprises with strong ecosystem-building and industrial chain leadership to increase investment in Pudong, undertake national and municipal strategic tasks, and receive financial support as stipulated.

2. Developing Benchmark FinTech Parks

Establish flagship FinTech parks, including: “Model Community + Financial Data Port” for FinTech and AI model industry synergy; “Lujiazui Software Park + Pudong Software Park” for integrated dual-city development; and Zhangjiang Science City’s “Digital Intelligence Hub” for digital finance. Provide financial support to eligible FinTech incubators, accelerators, and their resident enterprises.

3. Promoting Industrial Cluster Development

Attract FinTech subsidiaries and functional institutions of financial regulators, market infrastructures, and financial institutions to Pudong. Encourage large tech and internet companies to establish FinTech operations and support promising startups. Fund eligible new FinTech R&D institutions and computing infrastructure projects.

4. Building a Hub for FinTech Applications

Deepen collaboration between financial institutions and FinTech firms to expand application scenarios and drive digital transformation. Support AI model adoption in finance and enhance data management capabilities. Provide subsidies for qualifying projects.

5. Advancing FinTech Innovation

Support participation in national and local FinTech pilot programs, with rewards for successful projects. Encourage firms to obtain high-tech or “specialized and innovative” certifications. Fund original research through industry-academia collaboration and high-value patent development.

6. Developing FinTech Talent

Offer comprehensive services including residency permits, housing subsidies, and training. Implement a recognized international professional certification list. Streamline visa and permanent residency processes for qualified foreign FinTech professionals. Support applications for municipal talent programs.

7. Enhancing the Pudong FinTech Brand

Fund high-level industry events like conferences and competitions. Reward participation in international and national standard-setting. Encourage industry self-regulatory organizations and partnerships with professional service providers.

8. Improving FinTech Financing

Promote equity investment funds for FinTech startups. Facilitate cross-border trade and investment via free trade accounts. Offer IPO preparation, roadshows, and financing matchmaking. Provide loan interest and guarantee fee subsidies.

9. Strengthening Legal Frameworks

Explore local FinTech legislation to define industry scope, streamline market entry, and innovate in data usage and pilot scenarios for sustainable growth.

10. Mitigating Financial Risks

Enforce financial licensing principles, enhance risk awareness, and combat illegal activities. Guide firms to establish compliance systems. Encourage development of risk monitoring technologies and reporting mechanisms.

This plan takes effect immediately and remains valid until December 31, 2027.

Pudong New Area

Pudong New Area is a modern financial and commercial district in Shanghai, China, located east of the Huangpu River. Developed primarily since the 1990s as part of China’s economic reforms, it transformed from farmland into a global hub featuring iconic skyscrapers like the Shanghai Tower and the Oriental Pearl TV Tower. Today, it symbolizes China’s rapid urbanization and economic growth.

Shanghai Pilot Free Trade Zone

The **Shanghai Pilot Free Trade Zone (SPFTZ)**, established in 2013, was China’s first free trade zone, designed to test economic reforms and liberalize markets. It introduced policies like streamlined foreign investment, trade facilitation, and financial openness to boost international trade and investment. The SPFTZ has since expanded and inspired similar zones across China, serving as a key hub for innovation and global economic integration.

Lujiazui Software Park

Lujiazui Software Park is a prominent technology and innovation hub located in the Lujiazui Financial District of Shanghai, China. Established to support the growth of the software and IT industries, it houses numerous tech companies, startups, and research institutions. The park plays a key role in Shanghai’s development as a global financial and technological center, leveraging its proximity to the Pudong business district.

Pudong Software Park

Pudong Software Park, located in Shanghai’s Pudong district, is a major hub for China’s IT and software industries. Established in the late 1990s, it was developed to foster technological innovation and attract both domestic and international tech companies. Today, it houses numerous high-tech firms, startups, and research institutions, playing a key role in Shanghai’s growth as a global tech center.

Zhangjiang Science City

Zhangjiang Science City, located in Shanghai’s Pudong District, is a leading innovation hub in China, established in the 1990s as part of the country’s push to advance high-tech industries. It is home to numerous research institutions, biotech firms, and tech giants, fostering advancements in fields like pharmaceuticals, semiconductors, and artificial intelligence. Often called China’s “Silicon Valley,” it plays a key role in the nation’s strategy to become a global leader in science and technology.

Financial Data Port

The Financial Data Port is a modern digital infrastructure hub designed to facilitate secure and efficient financial data exchange and analysis. It serves as a critical platform for financial institutions, regulators, and businesses to access real-time market data, streamline transactions, and enhance compliance. While its exact origins vary by region, such ports have grown in importance with the rise of big data and global financial digitization in the 21st century.

Digital Intelligence Hub

The **Digital Intelligence Hub** is a modern facility or initiative focused on advancing digital technologies, data analytics, and artificial intelligence. Often associated with research, innovation, and collaboration, it serves as a center for businesses, academics, and governments to develop cutting-edge digital solutions. While specific histories vary by location, such hubs typically emerge in response to the growing demand for digital transformation and smart technologies in the 21st century.

Model Community

The **Model Community** is a cultural or social initiative designed to showcase ideal living conditions, often reflecting values like sustainability, equality, and innovation. Historically, such communities have been established as experimental projects, like the early 20th-century **Garden Cities** or modern eco-villages, to demonstrate harmonious urban planning. They serve as inspiration for broader societal development, blending tradition with progressive ideals.