Qianhai's 12 financial measures for the low-altitude economy take effect on September 1

Overview

On September 1, 2026, the "Twelve Measures for Using Finance to Promote High-Quality Development of the Low-Altitude Economy Industry in the Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone" took effect. The measures were published in the Shenzhen Municipal Government Gazette, and the 21st Century Business Herald reported on their content on August 28. Targeting the financial needs of the entire "low-altitude economy" industrial chain, which uses low-altitude airspace for drones, electric vertical take-off and landing (eVTOL) aircraft and related services, and the full life cycle of companies in it, the document sets out 12 specific steps across six areas.

Background

China regards the low-altitude economy as a new growth sector, and Shenzhen is known as a hub of the drone industry. According to the report, Qianhai is home to 239 key low-altitude economy enterprises, with recent milestones including a super factory, a special flight permit for an ultralight eVTOL aircraft and a drone test center of more than 12,000 square meters. In February 2026, the National Development and Reform Commission, the National Financial Regulatory Administration and the Civil Aviation Administration of China issued an implementation opinion on financial support for the low-altitude economy, which aims to establish a mandatory liability insurance system for unmanned aircraft by 2027. The Qianhai measures appear to put this national policy into practice locally.

Key Points

• Insurance products: Insurers are encouraged to develop R&D, property, product liability and talent-related insurance for eVTOL aircraft, industrial drones and key components.
• Co-insurance pool: Insurers are encouraged to form market-based co-insurance bodies. When the loss ratio on low-altitude insurance exceeds 100%, 50% of the excess is compensated.
• Credit risk sharing: For bank products such as low-altitude talent loans, R&D loans and industry-cluster loans, 50% of net non-performing loan losses on registered products is compensated, up to 500,000 yuan per bank per year.
• "Loan upon listing": A "Qianhai Low-Altitude Economy Zone" will be set up on the SME board of the Qianhai Equity Exchange, giving listed firms priority access to credit.
• Listing support: A "green channel" to the New Third Board, with support for moving on to the Main Board, ChiNext, the STAR Market and the Beijing Stock Exchange.
• Scenario rewards: 200,000 yuan per insured project for a first flight or first operation in Qianhai, and 300,000 yuan per project for a first cross-border route.
• Cross-border insurance and exports: Insurers in Shenzhen, Hong Kong and Macao are encouraged to develop cross-border products and explore mutual recognition of policies, and 50% of export credit insurance premiums is subsidized, up to 200,000 yuan per company per year.

Implications for Japan-Shenzhen Exchange

The measures suggest that, in developing the low-altitude economy, building financial mechanisms such as insurance and lending is regarded as being as important as aircraft and technology. Japan is also working toward practical drone logistics and "flying cars", and ensuring safety and sharing risk are common challenges. Qianhai's policy design may attract attention as a reference case for Japanese insurers, financial institutions and drone and component makers. The rewards for cross-border routes and the exploration of mutual insurance recognition with Hong Kong also show that Qianhai is looking toward international cooperation, and there is interest in how the measures will be implemented, including the scope for cooperation with overseas companies. For Japanese-affiliated firms considering low-altitude business, understanding the specific forms of insurance and financing support in Qianhai may also help in assessing the local business environment.

Outlook

The report did not disclose application procedures, detailed operating rules or the implementation period. The size of the co-insurance pool and how far mutual recognition of cross-border insurance will progress also remain undecided, and further announcements from the relevant authorities are awaited.

From the Association

The Association will continue to follow policy developments in Qianhai and other key areas of Shenzhen, as well as the growth of emerging industries such as the low-altitude economy. We will keep working to provide a platform for information sharing and exchange so that companies and organizations from Japan and Shenzhen can better understand the latest policies.