The construction of Yunnan Internet Finance Center in the Kunming Hi-Tech Zone was recently approved by the provincial government, in a project that could transform the Zone into a new cluster for local enterprises in this new financing industry.

The planned internet finance center, according to Yunnan’s financial affairs department, is expected to establish an inter-growth pattern between traditional financial industry and internet finance. Among Center’s other objectives are to support online financing in the Southwest China province and expand its influence in financial markets in Southeast Asia.

So far, 18 internet finance enterprises have signed agreements with the Zone to open offices. They will soon complete their industry and commerce registration.

By Shi Zihan and edited by Mevlut Katik