People work at the construction site of a commercial service center in Xiongan New Area, north China's Hebei Province, Aug. 13, 2020. By the end of July, the construction work of major structures or ancillary facilities of around 70 projects planned in 2020 have started in Xiongan New Area, according to the area's management committee. (Xinhua/Mu Yu)
BEIJING, Nov. 16 (Xinhua) -- The modern financial system in Xiongan New Area is being built in a faster and orderly manner, boosting the high-quality development of the area, reported Securities Daily Monday.
It's learned that in terms of spatial planning, Xiongan New Area will boast a financial island as the carrier to attract functional institutions and emerging financial enterprises, as well as pilots and demonstrations in digital RMB, fintech innovation supervision and financial pioneer area.
So far, 45 financial institutions have settled in the area, including two headquartered ones. The number of financial institutions is more than twice that before the establishment of Xiongan New Area.
Efforts will be made to promote the construction of fintech industry, financial innovation pioneer area and digital city in Xiongan New Area, making it a new benchmark for the development of digital economy nationwide and a new highland for the development of digital finance, said Tang Ying, deputy director with the Local Financial Supervision and Administration of Hebei Province.
Tang made the remark at the fourth Xiongan New Area Investment and Financing Development Forum held November 14 in Hebei's capital city Shijiazhuang, which gathered related officials, experts and scholars to discuss the investment and financing work in the construction and development of Xiongan New Area.
As multiple infrastructure projects will be carried out in the area, the Real Estate Investment Trust (REITs) products in infrastructure will have great space for innovative development, and REITs may be an important driver that supports the investment and financing in the area, said Yan Yan, chairman with China Chengxin International Credit Rating Co., Ltd.
Xiongan New Area is in the stage of investment and construction, and the input of special bonds is particularly important for the area, said Zhao Quanhou, a researcher with the Chinese Academy of Fiscal Sciences.
(Edited by Gu Shanshan with Xinhua Silk Road, gushanshan.1987@163.com)
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