Shenyang has launched a series of new financial policies in an effort to adjust the structure of its finance industry and boost the development of the local economy. It is hoped that this will result in a better investment environment in Shenyang, according to news from the local finance bureau, as reported on Aug 16.

Compared with the original financial policies, the new ones make some adjustments on the standards of financial subsidies and add new items eligible for subsidies.

In addition, Shenyang is rolling out strict management policies for funds and projects.

The measures, which cover five fields including financial institutions, financial innovation, the financial environment and people employed in the industry, are aimed at attracting businesses and financial institutions to invest in Shenyang.

Among all the policies, the following items are priorities.

The first is that setting up headquarters of financial institutions in Shenyang will be eligible for a maximum subsidy of 10 million yuan ($1.5 million).

Second, financial innovation will be supported. Introducing and setting up a national market in Shenyang will be eligible for payments of up to 10 million yuan.

Third, businesses involved in equity investment settling in Shenyang will be eligible for a maximum subsidy of five million yuan.

Fourth, Shenyang will provide newly established credit information services with 500,000 yuan of supporting funds.