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Huai’an Strengthens Investment for Major Projects

Jiangsu province’s Huai’an city has been constantly strengthening supply-side structural reform in its financial service sector and steadily expanding its financing scale since the beginning of 2017, according to Jiangsu media on Oct 17.

By the end of September, the city’s various bank deposit balance reached 346.6 billion yuan (50.97 billion US dollars), a year-on-year growth of 13.4 percent, and its loan balance rose to 273.59 billion yuan (40.23 billion US dollars), a year-on-year increase of 26.08 percent, which was higher than the provincial average growth rate by 14.06 percentage points. Its growth rates in bank deposit and loan ranked the 5th and 1st places respectively in the province.

In an increasingly tightened macro-financing environment, various banks and financial institutions have realized the accumulated capital investment of 17.36 billion yuan (2.55 billion US dollars), which has supported the construction of 126 major projects in the city.