Beijing Tongzhou recently issued a special development policy portfolio to support S fund and REITs

2022-05-24 0 By

According to the official account of Tongzhou District Financial Office in Beijing, the fifth Executive Meeting of Tongzhou District Government in 2022,Measures of Tongzhou District to Support the Agglomeration and Development of Private Equity Secondary Market Funds (Trial) (S Fund 10) and Measures of Tongzhou District to Support the Development of Real Estate Investment Trusts (REITs) in the field of infrastructure (Trial) (REITs 10) have been passed in principle.10 S Fund and 10 REITs are the first policies in Beijing, making Beijing Sub-Urban Center the first region in China to issue special measures to support the development of S Fund and REITs at the same time.Released in 2021, tongzhou district of Beijing financial regulator, the Beijing city vice center promotes the development of financial measures, puts forward to bank financing, stock information, public funds, finance, science and technology, trust companies, financial companies, financial leasing, consumer finance, auto financing and other kinds of licensed financial institutions and wealth managers, according to the paid-in capital or assets under management,District level subsidy of up to 60 million yuan.10 million yuan of subsidies will be given to listed companies and major domestic business entities of overseas listed companies.In order to further stimulate the investment vitality in the social sector and promote the development and expansion of the private equity investment fund market, it is also proposed to give fund managers up to 20 million yuan of subsidies according to the actual investment scale of private equity funds registered in the sub-center, which strongly supports the development of the primary market of private equity investment funds.In December 2020, China Securities Regulatory Commission approved Beijing to carry out the pilot project of private equity investment and venture capital investment share transfer (i.e. private equity secondary market), providing new policy opportunities for THE development of S fund.The forthcoming S Fund 10 will provide all-round support to S fund and its management enterprises, general and limited partners, custodian banks and other market players according to the supporting ideas of “all links of raising, investment, management and withdrawal, and all forms of institutions in the industry”.Company S fund management enterprises and S fund partners will be subsidized up to 30 million yuan in start-up expenses.S fund management enterprises that reach a certain transaction scale will be given a maximum subsidy of 20 million yuan.For domestic and foreign QFLP or QDLP pilot institutions, a subsidy of 500,000 yuan can be given for every 100 million yuan (or equivalent foreign currency).Senior executives and investors are also given a corresponding degree of financial incentives.Last year, The State Council issued the opinions on supporting the high-quality development of Beijing’s urban sub-center, and proposed to “steadily promote the pilot of real estate investment trusts (REITs) in the field of infrastructure, support the development of affordable rental housing REITs, and encourage public REITs fund managers to settle down and develop in the urban sub-center”.A clear policy signal has been released to build the REITs development highland for the sub-center.According to the idea of “comprehensive support and the best of tongzhou District”, The Ten REITs of Tongzhou District supports the original equity holders of infrastructure assets, public fund managers, listing referees, entrusted operation and management institutions of infrastructure assets, pre-Reits institutions and other market players.A subsidy of 6 million yuan was given.Newly introduced licensed public offering fund managers, securities companies, and fund sales agencies will be subsidized up to 60 million yuan in start-up fees.Pre-reits institutions will be subsidized up to 10 million yuan according to the scale of managed funds.Qualified senior talents will be rewarded with 1 million yuan and placement subsidies for five consecutive years.Support infrastructure REITs and S fund high quality development, is deputy city center to speed up infrastructure iterative update, promote transformation and upgrading of the industrial structure, improve the bearing capacity of urban functions and main fulcrum, deputy city center construction and development of dividend policy, market dividends will accelerate release, for all kinds of financial enterprises to set up the acquisition provide broad market space.In addition to REITs and S funds, the City Sub-Center will also vigorously develop various innovative funds, angel investment funds, achievement transformation funds, m&a funds, industrial funds and other innovative forms, accelerate the construction of the whole wealth management industry chain, promote the deep integration of finance and industry, and accurately support the transformation and upgrading of the real economy.At the same time, the “1+N” policy support system will be built around the “Several Measures for Promoting the Development of The Financial Industry in Beijing Sub-Center”, and 2.0 and 3.0 support measures will be put forward in wealth management, green finance and other industry segments to constantly optimize and upgrade the competitiveness of policies.To provide “attitude, strength, speed and temperature” policy experience for the landing development of the majority of financial enterprises.For more information, please download the 21 Finance APP