Core Viewpoint - Guangzhou is pioneering a "new model for special asset management" through policy innovation and platform development, aiming to mitigate major risks and promote high-quality economic growth [1]. Group 1: Special Asset Management Model - Guangzhou is the first city in China to systematically propose a "new model for special asset management" [1]. - The "2024 Work White Paper on Building a New Model for Special Asset Management in Guangzhou" was released at the 14th China (Guangzhou) International Financial Trading Expo [1]. - The white paper indicates that the scale of the special asset market in China has been expanding, with non-performing loans in the banking sector reaching 3.95 trillion yuan by the end of 2023 [1]. Group 2: Key Initiatives - Establishment of the Greater Bay Area Special Asset Empowerment Service Platform, which integrates online and offline services covering asset diagnosis, restructuring, and financing [2]. - Implementation of a government-court linkage mechanism to optimize bankruptcy restructuring processes and reduce institutional costs [2]. - Improvement of the business environment by innovating mechanisms for bankruptcy case processing and enhancing asset disposal transparency [2]. - Development of industry clusters in Tianhe District to attract financial institutions and create a special asset trading hub [2]. - Creation of an open ecosystem to attract domestic and foreign capital for special asset disposal through various policies and mechanisms [2]. Group 3: International Restructuring Center - The Bay Area International Restructuring Center was officially launched, marking a significant step in corporate rescue and financial risk mitigation [3]. - The center aims to provide restructuring guidance and support for distressed companies through professional advisory services and resource linkage [3]. - A "government guidance + market-driven + judicial guarantee" service system is being established to support asset restructuring [3]. - The center emphasizes international restructuring efforts and seeks to align rules within the Guangdong-Hong Kong-Macao Greater Bay Area for cross-border restructuring solutions [3].

Group 1 - The 14th China (Guangzhou) International Financial Trading Expo (referred to as "Jin Jiao Hui") commenced on June 26, focusing on financial services for the real economy and empowering industrial upgrades [2] - The expo covers an exhibition area of 20,000 square meters, attracting 312 financial institutions and enterprises, with eight major thematic exhibition areas [2] - The event aims to showcase the latest achievements in financial innovation and development in the Greater Bay Area, injecting strong momentum into the construction of a financially strong province and city [2] Group 2 - Multiple financial innovation platforms were launched, including the Guangzhou Financial Strong City Construction Think Tank Alliance and the digital RMB "Guangxin Yu" prepayment consumption guarantee service platform [5] - The "Guangxin Yu" platform addresses the frequent issues of prepayment consumption market failures by managing consumer funds and rights throughout their lifecycle [7] - The platform ensures that funds are only transferred to merchants after consumers confirm their rights, effectively preventing prepayment business failures [7] Group 3 - The digital RMB is highlighted as a crucial infrastructure for China's digital economy, with features like smart contracts ensuring consumer fund safety [8] - Consumers benefit from enhanced fund security, with immediate refunds for unspent amounts, while merchants enjoy zero transaction fees and government-backed credibility [8] - The platform supports government efforts in managing prepayment consumption risks, contributing to social stability [8] Group 4 - The Jin Jiao Hui has facilitated over 5.8 trillion yuan in financing intentions and attracted participation from global representatives and institutions [9] - The event has hosted numerous high-level forums and promotional meetings, providing over 10,000 financial job opportunities and implementing more than 2,400 inclusive finance measures [9] Group 5 - The release of the "2024 Guangzhou Special Asset Management New Model Work White Paper" marks a significant step in exploring asset revitalization paths [10] - The white paper outlines Guangzhou's innovative practices and strategic planning in special asset management, developed in collaboration with various government departments and financial institutions [12] - The city aims to enhance asset disposal efficiency and contribute to high-quality regional economic development through continuous innovation in special asset management [13]

Core Viewpoint - The 14th China (Guangzhou) International Financial Trading Expo focuses on financial innovation and aims to inject trillions of yuan into the modern industrial system through various financial platforms and activities [2][3]. Group 1: Financial Platforms - Five functional platforms were unveiled, including the Guangzhou Financial Strong City Construction Think Tank Alliance and the Bay Area International Restructuring Center, aimed at enhancing financial services for industrial new infrastructure [3][5]. - The Digital RMB "Guangxin Pre" reservation consumption guarantee service platform manages consumer funds and rights throughout their lifecycle, preventing prepayment business failures [4]. - The establishment of the Guangzhou Health Industry Investment Private Fund Management Company focuses on investments in the biopharmaceutical and health sectors, utilizing a "mother fund + sub-fund + direct investment" strategy [5]. Group 2: Industry and Financial Integration Activities - Five series of industry-finance integration activities were launched, including events focused on biomedicine, mergers and acquisitions, and green finance, to facilitate capital flow and project matching [6]. - The expo has achieved over 5.8 trillion yuan in intended signed agreements across its 13 previous editions, showcasing its effectiveness in connecting finance with industry [7]. Group 3: Additional Activities and Innovations - The expo will host over 20 activities, including academic exchanges and policy implementation discussions, aimed at enhancing financial literacy and consumer education [7]. - A white paper on the new model for special asset management in Guangzhou will be released, highlighting innovative practices and future plans in this sector [7].

Core Viewpoint - The article discusses the optimization of the Qualified Foreign Limited Partner (QFLP) policy in Guangzhou, focusing on tax treatment for QFLP fund management enterprises and their personnel, in line with the financial system reform outlined in the 20th National Congress of the Communist Party of China [4]. Tax Policies for QFLP Fund Management Enterprises - QFLP fund management enterprises are subject to Value Added Tax (VAT) on management and consulting fees at rates of 6% for general taxpayers and 3% for small-scale taxpayers [5]. - Corporate QFLP fund management enterprises are taxed at a corporate income tax rate of 25% [5]. - Common structures for QFLP funds include corporate, limited partnership, and contractual forms, with operations divided into fundraising, investment, management, and exit stages [5]. Tax Policies for Individual Partners and Fund Personnel - Individual partners and fund personnel working in Nansha, Guangzhou, who are Hong Kong residents can have their personal income tax burden exceeding that of Hong Kong exempted; similar provisions apply to Macau residents [7]. - High-end and scarce talent from overseas working in Nansha may qualify for personal income tax subsidies under the Greater Bay Area tax incentive policies [7][8].