Qingdao becomes a major financial city

Qingdao’s economic and technological development zone. Photos by Fu Xuejun

    WITH the fast development of its economy and an excellent investment environment, Qingdao has attracted a growing

number of financial organizations to settle down in the city.

    So far there are 136 financial organizations in the city, including 42 banks, 49 securities and futures organizations and 45 insurance organizations. The city has become an important “financial city“ in China.

    In addition to the national banks, well-known foreign banks and insurance companies, and many city banks and provincial banks from other areas of China have set up branches in the city. Bank of Rizhao, Bank of Weifang, Qilu Bank of China and Bank of Weihai have opened branches in the city this year.

    Meanwhile, according to an agreement signed recently, China’s first Sino-Korean joint insurance venture, Samsung Air China In. Co., will also set up a branch in the city soon.

    (Wang Yuanyuan, Fu Jun)