It was learned from People’s Bank Chenzhou center branch that the second county level financial consumer protection center was inaugurated in Linwu county on June 20, 2013 (the first one was in Zixing county). It was an important measure issued by People’e Bank for the protection of financial consumer, and also its responsibility for the promotion of financial service development and support of Chenzhou’s take-off.

It was a great policy decision determined by Chenzhou municipal party committee and Chenzhou government to promote“Chenzhou’s take-off” which was a inevitable course for further economical and social development of Chenzhou city under current condition. It was mentioned by Zhang Boyi- Branch Manager of People’s Bank Chenzhou Center Branch that: “Development of finance is the first step for one city’s great improvement, so Chenzhou financial industry would play its important role in the promotion of Chenzhou’take-off.”

Improving Chenzhou city’s financial system with introduction of more financial institutions

Concerning for the core role of finance placed in modern economy, Chenzhou municipal party committee and Chenzhou government kept high attention on the support of its development. At the same time, People’s Bank played its function well on the work as communication, management, service, etc. to improve n Chenzhou city’s financial system gradually.

In 2009, the first village bank of Chenzhou was settled down in Zixing city. Since then, different types of financial institutions as joint-stock commercial bank, village bank, insurance company, security company, futures company and others emerged rapidly in Chenzhou city. With their development, Chenzhou city was ranked the first place of Hunan province on the total amount of financial institutions, which helped to provide strong support of Chenzhou city economical improvement and financing expansion.

Promoting Chenzhou city’s economical development with upgrading credit availability

Economy and finance were two parts which improve along with each other. It was introduced by Li Xianzhi- Vice Manager of People’s Bank Chenzhou center branch that in order to improve Chenzhou city’s economical and social development, all the financial institutions of Chenzhou city would expand the credit availability with innovative financial product and service.

Followed with the prudent monetary policy and some development strategy issued by Chenzhou municipal party committee and Chenzhou government, People’s Bank Chenzhou center branch released the credit instructions timely to promote and guide the cooperation between banks and enterprises. In 2012, the new balance of loans was amounted to 10.59 billion yuan with an increase of 1.57 billion yuan, which guaranteed the demand of key projects construction and promoted the development of three rural issues and small micro-enterprises.

At the meantime, more financial service plan and support measures were figured out by the financial institutions to provide the enterprises with more favorable policies and better services. According to the record, 5 billion yuan innovative loans were issued to many enterprises which needed the financial support urgently.

Keeping innovation to optimize the financial service

Financial innovation was the corn power for the development of financial industry. It was learned that a deepen reform of financial organization system and management mechanism was carried out in Chenzhou financial industry to innovate more financial services and products, which greatly helped to upgrade its service quality and efficiency.

It was introduced by Li that great reform has been occurred on Chenzhou’s financial organization system and management mechanism in recent years, such as shareholding reform and organization structure adjustment of four state-owned banks, rapid improvement of stock-holding banksand village banks, reform of rural credit cooperatives, and etc.. At the meantime, insurance, security, futures and some other financial institutions were with synergetic development.

Furthermore, upgrade bank networks, better financial services and more financial products were facilitated or issued by the Chenzhou financial institutions which not just enhanced financial service efficiency, but met people’s diversified demands of financial demands as well.

Optimizing investment condition to improve financial industry development

Sound financial condition was the foundation of financial industry’s development. It was introduced by Zhang that deepen financial security work, credit system construction and evaluation of county financial condition were carried out by Chenzhou city to forge the “trust-worth Chenzhou”. With all financial institutions’efforts, Chenzhou city was honored as “China’s best innovation city of financial condition”. Some more work on evaluation of credit was handled in Chenzhou city with sound achievements.

People’s Bank Chenzhou center branch also played a sound role in financial management. Comprehensive law enforcement inspection, risk monitoring, comprehensive assessment of financial institutions, anti-money laundering monitoring, and other issues were carried out efficiently which granted Chenzhou financial industry with stable and healthy condition.

As of May, deposits balance and loan balance of all Chenzhou financial institutions were amounted to 142.07 billion yuan and 62.89 billion yuan with increase of 10.64 billion yuan and 6.08 billion yuan separately. Besides that, insurance industry, security industry and futures industry were with different high level rate of growth.