Shanghai Financial Valley first phase, located in Jiading district, will open in August, and the first stationing groups include eight financial firms.

Aiming to build a financial service platform, the dozens of business service parks form an entire concentrated functional area. "The valley is an open platform of international finance with the integration of the various types of financial firms," said project director Xu Hao.

According to Xia Zemin, deputy general manager of the financial valley, established in 2012, the first phase of the project is expected to finish by the end of July, with a project area of 68,000 square meters, including 30 free-standing offices.

The buildings are nearly finished. The whole valley is well spaced and built around water, providing a comfortable environment and beautiful landscape for occupants.

"The financial valley has unique architecture design, not only equipped with excellent hardware facilities, but also providing a complete set of service systems,” said Xia.

Xia said that during the third session of the CIFTIS (China Beijing International Fair for Trade in Services), Shanghai Financial Valley signed a strategic cooperation agreement with the Brazil national federation of service industries. The federation is on an official mission by the Brazil government. Affiliated member companies contribute 70 percent of local GDP.

"The cooperation focused on the financial field, Shanghai Financial Valley will bring advanced Brazilian e-banking technology to China. In return, delegates hope to visit Brazil and promote Chinese technology resources from the valley," said Xia. "If the two sides could enhance cooperation, it is estimated that the bilateral benefits will exceed tens of billions of dollars annually.”

According to a local news report, Shanghai Financial Valley also received strong support from the local administration. The Support Opinion of Promoting Jiading’s Modern Service Industry was issued by the district government last year, which set up a series of incentive measures for the financial industry.

Xia believes the financial valley project corresponds with the current district development plan, and the introduction of the financial valley will become a substantial part of the local economic market.

More than 100 financial enterprises are intent to join Shanghai Finance Valley currently, including 91 financial supermarkets and YeePay.

Edited by Zhang Yuchen and Michael Thai