Shenzhen Proposes Financial Openness Plan Targeting 100 Billion Yuan in QFLP Funds by 2030

According to its official Five-Year Development Plan released on May 26, 2026, Shenzhen proposed measures to expand financial openness and attract foreign financial institutions. The plan seeks to relax restrictions on foreign-funded banks, insurance companies, securities firms, asset managers, and private equity funds operating in resource allocation, payment clearing, and consumer credit sectors.

Key initiatives include deepening financial connectivity with Hong Kong and Macau through product mutual recognition, expanding the "Shenzhen-Hong Kong Private Fund Connect" program, advancing the "Cross-border Wealth Management Connect" pilot, and establishing a Greater Bay Area insurance service center. The plan targets a 100 billion yuan scale for QFLP (Qualified Foreign Limited Partner) trial funds by 2030.