2022 Changsha Financial Services Festival Opens

2022-06-10

The opening ceremony of the 2022 Changsha Financial Services Festival was held on June 9 morning. Wu Guiying, member of the Standing Committee of the CPC Hunan Provincial Committee and secretary of the CPC Changsha Municipal Committee, announced the opening of the festival, and pressed a ‘start button’ together with other participating leaders.

The Implementation Plan on Finance Boosting the Strategy of “Strengthening the Provincial Capital” (2022-2026) was issued during the opening ceremony. The document put forward a series of goals, in a bid to build Changsha into a regional financial center serving the whole province, leading central and western China, and exerting an influence on the whole country.

Goal 1:
By the end of 2026, the added value of Changsha's financial industry will have reached 200 billion yuan, accounting for 10% of the regional GDP. Efforts will be sped up to strengthen the financial institution system, and over 10 new headquarters, regional headquarters and functional headquarters of various financial institutions will have been introduced or established.

Goal 2:
The balance of various loans will exceed 4.8 trillion yuan, with an average annual growth rate of more than 12%. Loans in key areas such as medium and long-term loans in manufacturing, loans in key areas of inclusive finance, and green loans will increase significantly.

Goal 3:
The number of listed companies at home and abroad will reach 125. The private equity industry will develop rapidly. There will be over 400 private equity fund management institutions, and the management scale of private equity funds will exceed 200 billion yuan.

Goal 4:
The insurance industry’s development scale and quality will be improved, and its capacity to serve the real economy will be continuously enhanced. The average annual growth rate of the original premium income will not be lower than that of GDP. In terms of the industry’s overall strength, Changsha will stand at the forefront of six provincial capitals in central China.