The Pingtan Comprehensive Pilot Zone (PCPZ) released a stimulus package on June 28 to boost the financial industry, local news portal ptnet.cn reported.

All financial institutions, whether they are banks or not, are subject to a plethora of preferential policies ranging from tax compensation to rent and land subsidies.

For instance, a qualified institution can get a reward equivalent to 70 percent of its paid local taxes in a year – if the amount exceeds 20 million yuan ($3.2 million).

The rewards for an equity investment company are even more lucrative, as they can get funds equal to their paid local taxes for the first two years. The reward falls to 90 percent of the taxes for the next three years, and 50 percent for further years.

Furthermore, a financial institution can buy its operation location from Pingtan’s authorities at cost. If it decides to rent a place, then it can apply for a three-year subsidy equivalent to 30 percent of the rent, based on the policies.