Financial Industry is an important part of in tertiary industry and is a powerful support in economic development in Ningbo.

Now the financial system has gradually improved. By the end of 2000, there have been 4 state-owned commercial banks, 7 joint-stock commercial banks, 1 local commercial bank, 3 foreign banks and 2 representative offices of foreign banks in Ningbo. Financial industry is playing an important role in rasing and utilizing the social fund. By the end of February 2001, the balance of banking deposits in RMB and foreign currency savings amounted to 129.752 billion yuan in RMB, and the loans in RMB and foreign currency amounted to RMB 94.808 billion yuan in RMB. Banking industry is the main channel of absorbing deposits, extending loans and providing financial services. Abiding by the the principle of safely-operating and the idea of clients' benefit being the highest, all banks are undertaking bank-marketing, so banks' loans deal with such areas as agriculture, Hi-tech industry, building industry, the third industry, etc. Each bank hasbeeninnovative and created various financial products. Meanwhile, the securities and insurance industries have developed greatly.

The goal of developing local financial industry 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 banking and non-banking institutions to Ningbo for setting up financial enterprises, quickening the diversification of financial institutions and enhancing the total competitive advantage.