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Financial services

Sanming City Establishes Financial Science and Technology Special Service Teams to Promote Industrial Development

Strategic Insights

— 2 min read

Sanming City in Fujian Province has implemented a novel approach to financial services, partnering with five departments to issue the "Sanming City Financial Science and Technology Special Service Team Pilot Work Plan." This model, which combines financial institutions and technology think tanks, aims to foster deep integration of innovation, industry, capital, and talent chains. By leveraging the expertise of 56 branches from 29 financial institutions and 55 experts from universities and research institutes, Sanming City is providing comprehensive financial services to businesses across the city.

Key Takeaways:

  • The Sanming City Financial Science and Technology Special Service Team Pilot Work Plan was jointly issued by the Municipal Science and Technology Bureau and five other departments to promote the development of key industries.
  • The pilot program uses financial institutions as lead organizations to form service teams, with a focus on on-site financial services "into industrial parks and enterprises."
  • The city has selected 56 branches of 29 financial institutions, including the Industrial and Commercial Bank of China, Industrial Securities, and PICC Property and Casualty Insurance, to form 11 FinTech commissioner service teams.
  • These teams provide comprehensive financial services such as credit, insurance, and guarantees to businesses across all 11 counties (cities, and districts) in the city.
  • The city has also selected 55 experts from universities and research institutes, including the China National Rice Research Institute, Shanghai Jiao Tong University, and Zhejiang University, to form the Sanming Industrial Development Technology Think Tank.
  • The think tank members specialize in key industries across all county-level cities and provide consulting services tailored to the needs of the financial technology special service team.
  • The plan implements a system whereby the financial institution leading the special service mission for financial science and technology will be held responsible for the performance of the team.
  • The city has optimized the scoring structure for comprehensive financial services, with service missions with excellent annual assessments receiving subsidies of 10,000 yuan per person and qualified teams receiving subsidies of 5,000 yuan per person.

Statistics:

  • 56 branches of 29 financial institutions have been selected to form 11 FinTech commissioner service teams.
  • 55 experts from universities and research institutes have been selected to form the Sanming Industrial Development Technology Think Tank.
  • 11 counties (cities, and districts) in Sanming City are covered by the FinTech commissioner service teams.
  • 29 financial institutions have contributed to the pilot program.
  • The plan implements a subsidy system, with subsidies of 10,000 yuan per person and 5,000 yuan per person for service missions and teams.

Sources:

  • Xu Erwen, correspondent Yan Ximu, and the Sanming Municipal Government News Release (https://www.sm.gov.cn/zw/zwxx/sjdt/202510/t20251013_2161084.htm)

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