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Financial services

Updated: 2013-08-30

Fujian's banking industry, with total assets of 3.38 trillion yuan ($552 billion), has been a major force behind the province's economic growth, and tax revenue reached 46.5 billion yuan ($7.6 billion) from 2007 to 2011 - an annual average growth of 41 percent.

Financial organizations have made great efforts to develop new products and services and to explore new markets. In addition, a new Fujian Banking Bureau program offers support for local small and mid-sized banks by introducing funds from overseas and improving financial sector controls.

The sector has seen good progress over the past decade, including a multi-tier service network - with more than 15,000 financial service sites and 3,361 self-service sites covering the entire province - and improved quality of local bank assets, with the rate of non-performing loans plummeting to 0.7 percent in 2011, the third lowest rate in China. In addition, several national and overseas banks - such as Ping An, Shanghai Pudong Development Bank, Evergrowing and Standard Chartered - have opened branches in the province, and local financial organizations have also achieved an impressive performance, with Xingye Bank joining China's list of Top 10 banks and also the global Top 100 banks.

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