Guangzhou's Tianhe district is seeking public opinion on its measures to promote the development of financial services for the real economy.

The proposal advocates for the creation of a credit risk compensation fund pool targeted at small and medium-sized enterprises, which is expected to support cooperative banks in providing enhanced lending options for inclusive small and micro enterprises within the district. The annual special fund allocation is to be at most 20 million yuan ($2.76 million).

Enterprises listed in the domestic and foreign capital markets are poised to receive a reward of 2 million yuan, granted in stages.

Licensed legal persons institutions that are newly registered in the district and have a paid-in capital of more than 200 million yuan and less than 500 million yuan are set to be given a one-time reward of 5 million yuan. The newly established regional headquarters of licensed financial institutions are intended to have a subsidy of 800,000 yuan.

The vibrant Tianhe district. [Photo/WeChat account: tianhefabu]

For newly established licensed financial institutions that rent an office space of over 1,000 square meters at the Guangzhou International Financial City for their use, a rent subsidy of 600 yuan per sq m is poised to be granted in the first year.

The Tianhe Financial Management Service Center, which is a third-party operating platform for the Guangdong-Hong Kong-Macao Greater Bay Area, is set to provide a subsidy equal to 50 percent of the rent for three consecutive years to those who rent office space within 1,000 sq m.

Besides, it is proposed that a special fund for science and technology credit be established, as well as a technology insurance premium subsidy pool and the "government subsidy + technology insurance + bank financing" mechanism.

Financial institutions are also encouraged to launch green smart home appliance consumer financial products under the premise of legal compliance and risk control and customize exclusive credit programs for consumers.