Luohu issues measures for high-quality development of wealth management cluster
Recently, Shenzhen's Luohu District released the "Measures for the High-Quality Construction of a Wealth Management Cluster". The Measures focus on the development positioning of Luohu's financial industry "One Belt, Five Zones," leveraging the advantages of the Hongling Emerging Financial Industry Belt, including its convenient location, wide space, and institutional concentration, to promote the construction of a wealth management cluster and support Shenzhen in becoming a world-class wealth management center.
The Measures encourage the clustered development of licensed financial institutions. Licensed financial institutions can receive up to 50 million yuan in settlement support according to industry classification, with eligible institutions also receiving up to 10 million yuan in support for management teams. The Measures also encourage the development of private securities investment funds, supporting private securities investment fund management enterprises in settling in Luohu. Eligible private securities investment fund management enterprises can receive up to 20 million yuan in settlement support, and eligible wealth management institutions and securities branches can receive up to 20 million yuan in operational development support.
Wealth management institutions are supported in exploring innovative products such as Real Estate Investment Trusts (REITs) based on infrastructure, commercial real estate, urban renewal, and affordable housing, as well as Fund of Funds (FOF) and Environmental, Social, and Governance (ESG) funds. Eligible funds can receive up to 2 million yuan in support. The Measures aim to build professional wealth management advisory teams and support industry organizations in training and developing wealth management professionals, organizing professional training sessions, and holding professional evaluation activities in the wealth management sector.
Wealth management institutions in the district that win the New Fortune Best Investment Advisor award from the previous year will receive a 200,000 yuan reward for the winning team. Eligible financial practitioners holding ten types of certifications, including the Chartered Financial Analyst (CFA), can receive up to 50,000 yuan in support. Eligible core institutions of third-party wealth management, such as family offices, financial product sales, and investment planning, can receive continuous support for up to three years, with a cumulative maximum of 10 million yuan.
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