The Chenzhou Municipal Bureau of Finance makes its best endeavors to create "service-oriented finance" to tamp the platform for financing, at the same time to gather money and pool strengths. In 2009, Chenzhou City realized financial revenue of 8.02 billion yuan in total, an increase of 21.9% over last year, higher than the provincial average. And the total fiscal revenue laid a solid foundation for Chenzhou’s goal of “overtaking around the curve”.

In early 2009, the Chenzhou Municipal Party Committee and the Municipal Government put forward a new approach towards development. That is, to build Chenzhou City into the most open city in Hunan and into a regional central city of the three provinces like Guangdong, Hunan and Jiangxi; meanwhile, they carried out the plan of a multi-billion yuan investment and threw themselves into a battle of the construction of infrastructure of the city center, that of transportation infrastructure facilities and that of industrial development.

　　
The Chenzhou Municipal Bureau of Finance has injected 940 million yuan to support such three platforms for financing as “city construction investment”, “minerals industry investment” and “transportation construction investment”, and it has allocated the debt-service reserve fund of 400 million yuan. In 2009, the city raised capital for over 10 billion, nearly doubling the previous year.

　　
Led and driven by the financial fund, Chenzhou set off a new upsurge of starting new projects and conducting fast development. In 2009, Chenzhou has completed a total investment in fixed assets of the country of 53.7 billion yuan, up 99.5% over the previous year if calculated according to the same method. And the growth rate ranks first in Hunan Province.

Translator: Liu Honghua