Profile of the Financial Sector in Guanshanhu District

Ⅰ. Constant Improvement of Financial Services

There were 48 financial institutes in the district of Guanshanhu by the end of 2018. More specifically, the district had 22 banks, 12 securities companies, 12 insurance companies (10 of which are engaged in property insurance and two in life insurance), one trust firm, and a financial leasing company.

Meanwhile, the number of quasi-financial institutions in Guanshanhu reached 21, including five financial guarantee firms, four micro-finance companies, 11 P2P online lending intermediate entities, and one crowd-fund exchange platform.

The district has developed a new pattern of industrial growth where big data finance, internet finance and other emerging financial products take the lead, while banking, securities and insurance firms continue to play their traditional role.

Ⅱ. Progressive Development of Financial Indicators

It’s estimated that the added value of financial industries in Guanshanhu reached 1.8 billion yuan ($ 254.4 million) in 2018, with an increase of 5.4 percent year-on-year. Deposit and loan balances were valued at approximately 89.2 billion yuan ($ 12.6 billion) and 71.1 billion yuan ($ 10 billion) respectively by the end of 2018. The revenue of local insurance institutes grew to 676 million yuan ($ 95.5 million) during the same period.

Ⅲ. Remarkable Efforts to Finance Programs’ Development

In 2018, Guanshanhu raised about 6.6 billion yuan ($ 932.8 million) in capital, consisting of 490 million yuan ($ 69.3 million) in floating capital loans, 2.2 billion yuan ($ 310.9 million) in trust loans, 1.5 billion yuan ($ 212 million) in fund loans, 445 million yuan ($ 62.9 million) in project loans, 730 million yuan ($ 103.2 million) in housing renovation loans, and 1.2 billion yuan ($ 175 million) for promoting the development of local enterprises.

The local financial service office held five meetings last year to discuss the financing of some State-owned companies' projects, bond issuance, cooperation with Guiyang Bank and China CITIC Bank, and other relevant issues.