(Yicai Global) Jan. 16 -- Shanghai's Lujiazui Financial City is forming the Lujiazui Financial Technology Association to integrate resources from various parties, support innovation and entrepreneurship among companies active in the field and build a fintech exhibition center, said Ren Kaifeng, deputy director of the Lujiazui Bureau of the Shanghai Pilot Free-Trade Zone.
The business district, whose soaring skyscrapers dominate the eastern Chinese metropolis' riverfront skyline, will attract various licensed financial institutions from home and abroad to set up units plying the business there, Ren said at a press conference yesterday.
Lujiazui Financial City will build a fintech public research and development platform to help firms in the sector respond to the technological demands of financial institutions. It will also boost the development of various incubators and accelerators and cultivate the first national-level crowdfunding space in the fintech vertical field and support experimental mechanisms for regulatory technology and set up a Big Data administrative platform.
It will also build the about 3,000 square-meter Lujiazui fintech exhibition center in its core area to present the development of Shanghai's fintech industry, organize roadshows and technology exchange activities, help high-quality companies better showcase their technologies, products, models and services, and build an experiential platform to enable the public to better understand the emerging sector.
Editor: Ben Armour