Fujian: Support Xiamen in establishing a fund aggregation zone to attract long-term and patient capital from domestic and international sources for BRICS cooperation projects

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The People’s Government of Fujian Province issued the “Opinions on Supporting the High-Quality Development of the BRICS Countries New Industrial Revolution Partnership Innovation Base.” The “Opinions” propose to strengthen financial empowerment. Support Xiamen in building a fund aggregation zone, leverage the advantages of the pilot policy for qualified offshore limited partners, and attract long-term and patient capital from domestic and overseas to invest in BRICS cooperation projects. Explore cooperation with BRICS countries in cross-border transactions, payment and settlement, regulatory coordination, and other fields to create a new cross-border cooperation model integrating “industry + finance + data.” Support the BRICS Innovation Base in establishing a cross-border RMB business training center to provide policy advocacy and service docking. Guide financial institutions to establish BRICS business dedicated centers at the BRICS Innovation Base, and lawfully and compliantly provide related enterprises with credit lines, efficient cross-border settlement channels, and other specialized services. (People’s Financial News)

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