Since Chenzhou City focuses on accelerated development and transformation, the growth rate of loans of its financial system has ranked the first of Hunan Province for ten consecutive months, which is acclaimed as "Chenzhou Phenomenon" by the financial circle.

The deposits of financial institutions of the city have exceeded one hundred billion yuan, and the balance of nonperforming loans sets history's best record.

In recent years, Chenzhou has been devoted to creating favorable financial environment. Through cooperating with Chenzhou Branch of the China Banking Regulatory Commission, various banks quicken their establishment of branches in the city. Another two banks opened their branches in Chenzhou this year, increasing the total number to fourteen and making Chenzhou the city with the most bank branches in southern Hunan.

In a bid to attract more banks, the city vowed to build Chenzhou into the city with the best financial environment in Hunan Province and has made continuous efforts in this regard. In addition, Chenzhou has placed financial work high on the agenda and constantly conducts objective evaluation on financial environment of its cities and counties.

Translator: Zhang Minsi