To further enhance the core position of Nanjing (Hexi) financial cluster in the layout of Nanjing's financial industries and actively promote the development and gathering of the whole city's financial industries, Nanjing Municipal People's Government has issued the Measures for Implementation of Fully Supporting the Development of Nanjing (Hexi) Financial Cluster. For financial institutions, quasi-financial institutions, and financial background headquarters that enter the Nanjing (Hexi) financial cluster after January 1, 2014, Nanjing Municipal People's Government has made an overall arrangement of RMB 100 billion annually to set up the special fund for Hexi financial industry development. The special fund is used specifically for rewards and subsidies for the development of financial industries in the Hexi financial cluster.
Scope of rewards and subsidies: Financial institutions, quasi-financial institutions, and financial background headquarters that newly enter the cluster may receive one-time subsidies. Subsidies will be given to financial institutions to purchase or rent office space in the cluster for their own use. Rewards may be given to persons in deputy positions or higher positions in a corporate headquarters that is a legal financial institution entity that has newly entered the cluster, and persons in chief positions at regional headquarters of financial institutions that have newly entered the cluster. Other reward and subsidy policies of the municipal government are for supporting the development of the cluster.
One-time fund subsidies for headquarters with legal personality of financial institutions that have newly entered the cluster: RMB 10 million will be granted to an institution with a registered capital of RMB 1 billion or higher. RMB 8 million will be granted to an institution with a registered capital ranging from RMB 500 million to RMB 1 billion. and RMB 5 million will be granted to an institution with a registered capital ranging from RMB 100 million to RMB 500 million.
A one-time fund subsidy of up to RMB 2 million can be given to a headquarters that is a legal financial institution that has newly entered the cluster or the level-1 branch, a financial background headquarters, or a quasi-financial institution with a registered capital of RMB 100 million or higher after the institution has gone into normal business operation.
If a representative office of a foreign-invested financial institution that has newly entered the cluster rents office space for its own use in the cluster, a rent subsidy of RMB 1200/m2 per year is given for the first three years based on the actual rental area. The area for which rent subsidies are given is limited to 200 m2. One-time subsidies will be given to institutions that purchase office space for their own use based on the rent subsidy standard.
For financial intermediary service institutions with brand awareness that focus on professional talent training, investment consultation, credit ratings, assets appraisals, accounting auditing, and legal services and new-type financial organizations such as Internet finance, assets management, and wealth management that are newly established in the cluster, an initial subsidy of RMB 300,000 for opening may be given after recognition. Additional subsidies may be subsequently provided based on contributions. The cumulative subsidies shall not exceed RMB 1 million.
For the angel investment funds within the RMB 100 million set in the cluster, an initial subsidy of RMB 300,000 for opening will be given based on the reward standard of the private equity fund at the initial investment stage. Additional subsidies of 1% of the local investment will be subsequently provided.
For "funds+incubator" innovation service entities with project discovery, filtering, incubation, and investment mechanisms that are established in the cluster and recognized, a risk compensation of up to 10% of the actual investment in the local city will be given based on the annual project investment and investment scale. The maximum compensation fund is RMB 1 million. If the compensation fund is obtained, the entity is ineligible to obtain the relevant risk compensation policy in the Measures for the Implementation of Improving the Development of Private Equity Funds in Nanjing (Issued by Nanjing Municipal People's Government  No. 73 Attachment 4).
If the over-the-counter market in the cluster provides listing services for Nanjing enterprises and a total of more than 50 enterprises obtain financing from the market, a one-time reward of RMB 1 million will be given to the market after recognition of the Nanjing financial development office.
For newly settled financial institutions that purchase office space in the cluster for their own use, a house purchasing subsidy of RMB 1200/m2 will be given. The subsidy shall not exceed RMB 3 million. The subsidy is allocated in installments over three years and 1/3 of the house payment is allocated each year. For newly settled financial institutions that rent offices in the cluster, a rent subsidy of up to RMB 60/m2 per month will be given for three years up to a maximum subsidy of RMB 2 million total.
Support for financial institutions that formally enter Nanjing Hexi CBD has been improved.
For senior executives in deputy positions or higher positions in headquarters with legal personality of financial institutions that have newly entered the cluster, a reward of RMB 50,000 per year will be given to each position for three consecutive years. The total amount of annual rewards for each company shall not exceed RMB 500,000. For senior executives in chief positions in regional headquarters of financial institutions that have newly entered the cluster, a reward of RMB 30,000 per year will be given to each position for three consecutive years. The total amount of annual rewards for each company shall not exceed RMB 90,000. The chief and deputy representatives of foreign-invested financial institutions that are newly established are treated as chief positions at the regional headquarters. For qualified high-level financial talent, a maximum of RMB 30,000/year reward will be given to each person for three consecutive years after recognition, based on their relative contributions. Senior executives of financial institutions and high-level financial talents cannot enjoy both rewards at the same time. The higher reward shall prevail.