China's First Space Dedicated to Mass Innovation in the Financial Industry Opens in Chengdu

Financial Dreamworks Chengdu was launched by Chengdu Financial City Investment and Development Co., Ltd. ("Chengdu Financial City"). The platform will create an innovative financial ecosystem, gathering high-end financial research and innovation centers, well-known financial institutions, and an array of supporting service providers. Facility governance will also allow access to a range of preferential policies, aimed at building a dynamic financial center in Western China.

Liang Qizhou, Deputy Director of Chengdu Financial Office stated that "Chengdu aims to become China's fourth financial pillar, after first tier cities Beijing and Shanghai, as well as Guangzhou and Shenzhen. It will achieve this through improving competitiveness in capital markets, wealth management, venture capital financing, clearance centres and emerging financial industries. The Financial Dreamworks Chengdu project will contribute, and we want it to be the leading platform for financial innovation and development in Western China."

"Financial Dreamworks Chengdu, by creating R&D and innovation centers, will bring together talent and entrepreneurs, and drive advanced thinking around economics, finance, technology, and capital, all underpinned with the core principles of innovation and entrepreneurship," emphasized Miao Wei, General Manager of Chengdu Financial City.

Financial Dreamworks Chengdu was established with the full support of the People's Bank of China Chengdu branch. Chengdu Financial City and the Business Management Department of the People's Bank of China Chengdu branch recently signed a Strategic Cooperation Memorandum on 'Jointly Promoting Chengdu as a Financial Center in Western China.' The two sides have collectively conducted a number of strategic projects aimed at promoting financial innovation, including cooperation on the Financial Dreamworks Chengdu project, as well as a big data platform for entrepreneurs and innovators. They have also launched the Chengdu Financial Think Tank.

Chengdu Financial City

Chengdu Financial City (CDFC) is the biggest financial industry focused development in western China, covering an area of 5.1 square kilometers. It is home to over 350 financial institutions, including traditional institutions, such as China Minsheng Banking Chengdu and HSBC, emerging financial enterprises focusing on microcredit and financial leasing, and regulatory bodies, such as the China Banking Regulatory Commission Sichuan. The regional headquarters of over twenty Fortune 500 companies are also located in the development, alongside multinationals such as Federal Express and Oracle Software Systems. A number of domestic enterprises also have regional headquarters in CDFC, including China Unicom, Xinhua News Agency, State Grid and Anbang Insurance Group.

Mark Scott, 86 10 8520 6462, mark.scott@ogilvy.com