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Nanjing Jiangbei New Area Is Making Every Effort to Build a New Financial Center

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Nanjing Jiangbei New Area Is Making Every Effort to Build a New Financial Center

December 07
08:21 2020

Finance can be understood literally as the accommodation of funds. Firstly, as the emergence of finance was a result of the appearance of currency, the essence of finance was gradually arisen from food exchange to currency exchange.

Modern financial concepts have not been established for a long time. In China, it was not until the 20th century that the combination of “funds” and “accommodation” appeared. Analyzing the evolution history of etymology, we can find that the core function of the financial industry from origin to development is intermediary service. Whether it is simple payments in the early days, or acceptance, loans and even recent financial management, finance is a link that connects different participants in economic activities and an intermediary that connects and promotes the operation of economic activities.

From finance to new finance, it is the product of technological progress and industrial innovation.

If the previous financial system is a product of the industrial age, it is compatible with industrial civilization, corresponding to standardization, mass production, manual services, etc.; and with the advancement of the information revolution, mobile Internet, artificial intelligence, big data and other new technologies, a new financial system that is compatible with the DT civilization (Data Technology) is taking shape.

In current era, the marketization of financial elements, the diversification of financial entities, and the rapid iteration of financial products are taking place. Driven by the Internet and information technology revolution, major trends such as mobilization, cloud computing, and big data are triggering profound changes in the financial industry.

This change has made the traditional financial industry increasingly blurred and promoted the integration of traditional financial services and Internet technology. By means of optimizing resource allocation and technological innovation, new financial ecology, financial service models and financial products have been produced.

New finance has broken the boundaries of traditional finance. Unlike traditional finance, which has clear classifications, such as banking, securities, and insurance, new finance does not have a clear assortment. In theory, since all cross-border operations can be realized, new finance is more efficient and cost-saving.

New finance is always closely related to new urban spaces, new industries, and new development models.

Finance is the core and bloodline of modern economy, and also an important support for urban construction and development. The origin of new finance is to help the development of the real economy. The history of Jiangbei New Area once again explained the typical characteristics of global technology and financial innovation.

Based on the strategic positioning given by the state, Nanjing in Jiangsu Province has made an explicit decision to make the most of the policy and institutional advantages of the state-level new area, and concentrate the province’s whole strengths to build a nationwide first-class new financial center with the capability of strong capital absorption, industry-finance integration, and innovation transformation in Jiangbei New District.

During five years, the Jiangbei New Area develops a unique way of constructing the new finance with the integration of industry and finance.  

Under the strategic guidance of building a leading innovative city with global influence and building a leading industrial cluster of “two cities and one center”, Jiangbei New Area is making every effort to build a new financial center in Yangtze River, actively exploring the effective integration of finance, industry and technology, and making the most of the finance for the support of industrial development and the promotion of scientific and technological progress, and providing a strong financial support for Jiangbei New Area to build the innovation source, leading area and important growth pole throughout the province. The new financial center of Jiangbei New Area uses technology to empower finance, enables finance to boost industry, and takes mechanism innovation as a guarantee to build a financial industry system that integrates the development of “technology, finance, and industry”.

The new financial construction of Jiangbei New Area takes “industry-finance integration” as the starting point and the bank, enterprise and government are linked to invigorate resources, focusing on solving corporate financing difficulties and expensive financing; creating financial service products from corporate needs, and use financial technology innovation and finance service innovation to help companies grow and develop; continuing to empower the high-quality development of the real economy in the region, and promote the high-standard construction of the chip city and the gene city. Benefiting from the agglomeration effect of the new finance, a number of high-quality projects related to the chip city and the gene city have settled in Jiangbei New District.

In Jiangbei New Area, the new financial center is not a simple physical cluster, but a comprehensive five-layer model: the bottom layer is the physical space; the second layer is the soft environment, including the business environment and social culture; the third layer is the industry focus, where industry and finance are deeply integrated; the fourth layer is the capital environment, which has unique capital resources; the fifth layer is the platform, that is, the ecosystem, which has industry and finance centers, as well as a large number of service organizations, leading enterprises and R&D institutions. This model determines the culture, rules, standards and even the entire industry orientation of the new financial center in Jiangbei New Area.

China is expected to become the cradle to foster financiers, while the Jiangbei New Area is the most promising financial hometown. At the time when the national-level new area and the free trade zone are superimposed, the new financial construction of Jiangbei New Area is actively integrating the world with openness and innovation and leading the future.

Media Contact
Company Name: Shenzhen Niandaiwenhua Co.,Ltd
Contact Person: Liu Xinting
Email: Send Email
Country: China

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