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Guidelines to Support Internet Financial Services Development

On 15 March 2014, the Shenzhen MunicipalGovernment released the Guidelines to Support Internet-Based ServicesDevelopment to provide several measures that promote the development ofinternet-based financial services in Shenzhen.

The measures include supporting qualifiedinstitutions to legally establish innovative internet financial institutionsrelying on the internet as an operation medium and sales channel, such asinternet banks, internet insurance, internet bonds and internet fund sales;supporting internet enterprises to initiate and establish or participate infinancial institutions such as commercial banks, bonds, funds, futures,insurance, consumer finance, automobile finance, financial leasing andfinancial e-commerce; and supporting internet enterprises to hold shares in orparticipate in new financial institutions engaged in petty loans, financingguarantees, financing leases, pawn investment, shares investment, and platformsfor essential elements.