Financial environment of Xi’an

on July 28 | in Business, Global Information, Xi'an | by | with Comments Off on Financial environment of Xi’an

Xi’an is the headquarters for People’s Bank of China (PBoC) in the northwest, and the largest financial centre in the region. It is also home to several foreign banks such as BEA, Bank of Nova Scotia and HSBC. Renowned accounting firms such as Price Waterhouse Coopers also have presence here. A diversified financial system has taken shape, in which many different financial institutions co-exist with State-owned commercial banks and State policy banks. By the end of 2009, the deposit balance of various financial institutions of Xi’an totalled 745.761 billion Rmb, and the loan balance was 443.65 billion Rmb.

The securities market is developing healthily through active transactions. By the end of 2008, Xi’an possessed 21 listed companies with a total listing capital of 8.825 billion Rmb. In 2008, the transaction value of the city’s securities market totalled 745.091 billion Rmb. Of this total, the transaction value of stock was 633.482 billion Rmb; that of funds – 7.49 billion Rmb. The accumulative account number on the stock market in Xi’an reached 1.3347 million and the trading value of futures by agency was 280.08 billion Rmb.

The insurance business of Xi’an is developing rapidly – there are 34 insurance companies of all kinds and 411 insurance agencies, with 79 specialised intermediary insurance agencies offering various property and life insurance service. In 2008, insurance income totalled 10.1In 2008, insurance income totalled 10.145 billion Rmb; 2.592 billion Rmb was generated as indemnity and payment.

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