Shenzhen is pulling efforts to build a financial system that can support its economic growth, streamline its industrial structure and effectively control risks.

Financial Industry

The number of banks and securities and insurance firms, and the proportion of their employees to the total population in Shenzhen are among the top three cities in China. In 2008, the total assets of financial firms reached 2.41 trillion yuan, realizing an added value of 100.7 billion yuan and comprising 12.9 percent of the city's GDP.

The municipal government pledges to offer preferential policies, optimal environment and best services to the local financial organizations.

Banking

By the end of 2008, the total assets of banks in Shenzhen reached 2.06 trillion yuan, up 8.5 billion yuan from the previous year. Savings deposits in 2008 reached 1.426 trillion yuan, 171.6 billion yuan more than the previous year. Loans reached 1.123 trillion yuan, 118.1 billion yuan more than the previous year.

Securities Industry

One of the centers of China's securities markets, Shenzhen is home to the Shenzhen Stock Exchange (SSE). The Small- and Medium-size Enterprises Board has been operating well over the past five years since its debut at the SSE in 2004. By the end of 2008, there were 740 firms and 782 stocks listed on the market, an increase of 70 stocks from the previous year. The total listed assets reached 344.186 billion shares, up 23.73 percent from the previous year.

Insurance

Shenzhen is the fourth-strongest city in insurance in China, with local firms managing rapidly growing capital. So far, 11 insurance firms have their headquarters in Shenzhen. There are 47 branches of insurance firms and 184 insurance agent institutions in the city. The total assets of the insurance firms reached 50.987 billion yuan, up 37.4 percent from the previous year. By the end of 2008, there were three locally incorporated foreign insurance institutions, 11 branches of foreign insurance firms and three foreign insurance sales agents in Shenzhen.

Foreign Financial Institutions

The Shenzhen branch of Nanyang Commercial Bank opened in January 1982, marking the first reentrance of foreign banks into the Chinese mainland market since 1949. In 2008, another round of branches were opened by foreign banks, with CITIC Ka Wah (China) Bank Limited and Dah Sing Bank (China) Limited opening. So far, the city has 34 foreign banks, including four locally incorporated institutions, 24 branches and six representative offices.