The “Financial Island” will be built in the starting area of ​​Xiong’an New District to explore the financial supervision sandbox mechanism

According to Sina Finance News, Zhu Zhongwen, deputy director of the Reform and Development Bureau of Hebei Xiong'an New District Management Committee, revealed that the “Financial Island” with a total land area of ​​about 2.5 square kilometers will be built in the Xiong’an area of ​​Hebei Free Trade Zone to explore the “sandbox” of financial supervision. mechanism". Zhang Yong, a researcher at the Shanghai Free Trade Zone Comprehensive Research Institute of Fudan University, said that the financial island is expected to become the core area of ​​Xiong'an CBD. “Financial Island will become a centralized carrying place for financial institutions and a center for financial technology innovation.” Zhu Zhongwen said, “The Xiong’an area will build a financial demonstration zone and explore the regulatory 'sandbox mechanism' under the premise of legal compliance. The pilot program to support equity crowdfunding will be tested first at the Xiong'an Equity Exchange."