Shanxi International Finance Center in Taiyuan, will be the province’s Internet finance headquarter, according to a strategic cooperation agreement with Shanxi Internet Finance Union on June 19.

“After the project is completed, it will?become a business complex combining financial?businesses like banks, insurance, securities, guarantees, fund?managment and other services. It marks a breakthrough to bring the scale effect into full play,” said Yang Shouqing, general-manager of Shanxi Jinneng International Finance Center Co, to Shanxi Youth News on June 24. The Internet finance headquarter is designed as a cluster of modern financial services, according to its plan.

Yang explained that the headquarter will be an incubator for financial innovation. It will house different kinds of companies and suppliers surrounding Internet finance, such as crowdfunding companies, third-party payment enterprises and big data enterprises.

The supporting commercial and property services, as well as value-added services will be equipped simultaneously. For example, it will offer consulting services and promote cooperation among Internet financial businesses.

The center will go into service next year, Yang said. It will provide a full range of financial services for the economic transformation and financial revival of Shanxi province.

Jinneng Holding Group, one of China’s Fortune 500, developed this 8-hectare finance center with an investment of 2.52 billion yuan ($406.48 million)