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15 July 2015

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Value Added in Finance Sector Exceeds 126 Bln Yuan

2017-02-22 Download Print

Hunan’s value added in finance sector increased 8 percent year on year to over 126.8 billion yuan, 0.1 percentage point higher than the provincial GDP growth, according to the latest data released by the Hunan Provincial Bureau of Statistics on Feb. 20, 2017. The value added in the sector accounted for 4.1 percent of the total provincial GDP, 0.3 percentage point higher than the previous year.

Last year saw a sharp rise in loans and deposits of bank industry. In 2016, savings deposit in Renminbi in all items of financial institutions totaled over 4 trillion yuan, up by 15.8 percent. The saving deposits growth in Zhangjiajie hit 26.4 percent, making the city the fastest grower in Hunan in this regard. Balance of loans in Renminbi in all items of financial institutions amounted to more than 2.7 trillion yuan, up by 14.6 percent. Xiangxi Tujia and Miao Autonomous Prefecture witnessed the fastest loan growth of 24.6 percent in the province.

Strong development and remarkable achievements have been made in insurance industry. The premium income of Hunan surged 24.5 percent over the same period of last year. The highest premium income growth was seen in Zhangjiajie, amounting to 39.7 percent.

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Translator: Xiao Juan

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