Financial industry, as a powerful support in economic development in Ningbo, is one of the fastest-growing industries in tertiary industry. It contributes tremendous to local fiscal revenue.

At present, the local financial system is gradually improved. Till the end of 2008, there have been 2 policy banks, 5 large commercial banks, 10 joint-stock commercial banks, 5 city commercial banks, 1 urban credit cooperatives, 11 rural cooperative institutions, 3 foreign financial institutions including two legal persons and one branch in Ningbo. Financial industry is playing an important role in raising and utilizing the social fund. By the end of 2008, the balance of banking deposits in RMB and foreign currency amounted to RMB 635.36 billion, and the loans in RMB and foreign currency amounted to RMB 582.08 billion. Banking industry is the main channel of transferring fund, extending loans and providing financial services. To follow the principle of scientific development and substantial operation, all the banks are extending their markets, and providing the loans to agriculture, Hi-tech industry, architecture industry, service industry, etc. Besides, each bank has innovated and created various financial products, so as to improve its operation and risk management. Meanwhile, the securities and insurance industries are also developing dynamically and obtaining new achievement.

The goal of local financial industry development is to establish a creditable and efficient financial system. We will provide first-class and convenient financial services to domestic and foreign customers. At the same time, we heartily invite more domestic and foreign financial institutions to set up their branches and offices in Ningbo, so as to quicken the diversification of financial institutions and enhancing the service ability and competitiveness of the whole financial industry.