To support and coordinate the construction of Shanghai into an international financial centre and international shipping centre, the Huangpu district in Shanghai has recently launched 10 measures to expedite the building of a financial cluster on the Bund. 

1. Deepen the development planning of the financial cluster on the Bund. Drawing fully on the information contained in the proposal "Study on Deepening the Financial Functions of the Bund", further steps will be taken to deepen the overall planning and design of the financial cluster on the Bund covering an area of 2.6 sq km. Office blocks with a total floor area of 1.5 to 1.8 million sqm will be built south of the Bund to form a new clustering area for finance related institutions. 

2. Innovate the development and management mode of the financial cluster on the Bund. Action will be taken to form an administration body to promote the development of financial institutions and investment companies at the financial cluster and implement high-efficiency management over the building of the financial cluster. 

3. Accelerate the construction of high-end office buildings at the financial cluster on the Bund. During this year and the next, the so-called "five batches" strategy will be implemented. The five are: one batch of work-in-progress buildings will be brought to completion; one batch of new projects will be launched; one batch of "ready-for-development" plots will be assigned; one batch of demolition-in-progress plots will be levelled; and one batch of old buildings will be replaced. 

4. Provide preferential policies and quality services to all the financial enterprises clustered on the Bund. In line with requirements of building an asset management centre, a capital operation centre and a financial service centre, efforts will be made to strengthen strategic partnership with state-owned commercial banks and foreign banks. By offering most favoured polices and providing the best quality services, financial institutions such as securities firms, fund management companies, trust fund companies, investment banks, asset management companies, financing and leasing companies, equity investment firms and futures brokers will be attracted here to boost the growth of the emerging financial market and new financial sector. For any policies introduced by the Shanghai municipality, Huangpu will take the lead in implementing them. Any policies available in other districts will also be available in Huangpu. Furthermore, Huangpu will offer specific policies and services to major financial institutions. 

5. Give full support to financial innovation. Action will be taken to strengthen communication and coordination with financial supervisory departments set up by the central government in Shanghai and with municipal financial supervisory departments. Conscientious efforts will be made to win pilot projects to be tried out at the Bund; financial enterprises in the cluster will be encouraged and given support to participate in various kinds of financial innovation and pilot projects; and the operation of equity investment companies, small loan companies and consumer credit companies will be promoted. 

6. Enhance services for financial talent. Huangpu will give full play to its advantages and create the right conditions to help financial talent to solve practical problems ranging from household register, housing, medical care, social security, schooling for children, and food. This is aimed at attracting more financial talent to settle in Huangpu. In particular, financial talent working at the Bund will be offered quality medical services and international schooling for their children. 

7. Create the best ecological environment for the development of finance. Steps will be taken to cooperate with internationally first-rate development institutions to introduce new business modes in a bid to optimise the commercial, leisure, cultural and environmental facilities as well as legal and professional services along the Bund. Active efforts will be devoted to introducing high-end commercial services and efficient business services in a bid to upgrade the financial supporting services on the Bund. 

8. Build a communication and exchange platform for financial institutions and financial professionals in the municipality. Taking advantage of the presence of the municipal financial services centre, different municipal financial associations and the municipal financial industry federation on the Bund, joint activities will be organised regularly to promote exchanges and interactions among all kinds of financial institutions in Shanghai. 

9. Further promote and develop the Bund financial culture. Taking the historical and cultural advantages of the Bund of being the "Wall Street of the Far East" and the "Cluster of International Architectures", efforts will be made to further discover the characteristics of the financial culture of the Bund and create the "Financial Bund" brand effect, in a bid to expand the influence of the financial cluster on the Bund both at home and abroad. The waterfront landscape of the Bund will undergo a facelift and a Bund financial square will be built to create a new landmark for the financial culture of the Bund. 

10. Increase international financial cooperation and exchange. Efforts will be made to strengthen strategic cooperation between the financial cluster on the Bund and advanced financial districts in the world such as City of London and New York's Manhattan by organising regular multi-lateral exchange forums. An international trading platform will be built for the financial factors market, financial institutions, and financial regulatory departments in the district in a move to upgrade the degree of internationalisation of the financial cluster on the Bund.