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Zhengzhou’s 2023 Economic and Social Development Plan to Focus on Financial Innovation

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It is reported that the People\’s Government of Zhengzhou issued a notice on the issuance of the 2023 National Economic and Social Development Plan of Zhengzhou…

Zhengzhous 2023 Economic and Social Development Plan to Focus on Financial Innovation

It is reported that the People’s Government of Zhengzhou issued a notice on the issuance of the 2023 National Economic and Social Development Plan of Zhengzhou. It was mentioned that we should promote the construction of the national regional financial center, promote the approval of the pilot city of digital RMB, promote the pilot operation of policy-oriented science and technology innovation finance with the Bank of Zhengzhou as the main body, guide financial institutions to innovate financial products, guide Yutong Group to merge and acquire auto finance companies, fill in the blank of local new financial licenses, expand and strengthen the futures industry, and form a group of “futures+spot” leading enterprises, We will strive to increase the added value of the financial industry by more than 160 billion yuan, increase the number of listed companies by 10, and increase the capital market financing by more than 120 billion yuan.

Zhengzhou: Promote the pilot city of digital RMB to be approved to expand and strengthen the futures industry

Interpretation of the news:


The announcement by the People’s Government of Zhengzhou regarding its 2023 National Economic and Social Development Plan is a clear indication of the municipality’s determination to implement financial innovation as a major driver of its future growth. The plan’s aims to promote the construction of a national regional financial center, push forward the pilot city of digital RMB, and pilot operation of policy-oriented science and technology innovation finance by the Bank of Zhengzhou are significant steps towards creating a more vibrant and modern financial industry.

To achieve this, the city will guide financial institutions in innovating financial products and encourage Yutong Group to acquire auto finance companies, filling the gaps in new financial licenses. The development of futures industry enterprises combined with the spot market will help create leading companies. Additionally, the city plans to increase the added value of the financial industry by more than 160 billion yuan, increase the number of listed companies by 10, and raise capital market financing by more than 120 billion yuan.

The creation of a national regional financial center in Zhengzhou will have a significant impact on the region’s financial industry as well as the national economy. With a strong financial system, Zhengzhou will attract more foreign investment and capital and gradually move closer to becoming a top-tier financial center. The pilot city of digital RMB will promote the development of the country’s digital currency and further enhance China’s financial power.

The establishment of policy-oriented science and technology innovation finance by the Bank of Zhengzhou will also be crucial in supporting technological innovation in the region. This move will help to support the country’s strategic focus on the development of technological innovation and foster development that is centered on technology. The mixing of technological innovation with financial services will generate new businesses and opportunities.

In conclusion, Zhengzhou’s 2023 National Economic and Social Development Plan is a well-crafted plan that focuses on financial innovation and technological development. With the implementation of the outlined strategies, Zhengzhou’s financial industry will continue to expand and evolve into a key player on the national stage.

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