1. Financial development in Qingdao

There were 171 financial agents and 16 financial agents with legal representatives in Qingdao at the end of October 2012, among which 44 were bank agents, 56 were securities and futures agents, and 45 were insurance agents.

Qingdao has eight financial agents with local legal representatives, including seven bank agents and one securities agent. There are 11 foreign-invested banks -- HSBC, The Yamaguchi Bank, Hana Bank, Industrial Bank of Korea, NCB, Shinhan Bank, Bank of East Asia, Standard Chartered Bank, OCBC, Mizuho Corporate Bank and Busan Bank -- and 10 foreign-invested insurance agents. The city is developing trial operations for new financial agents. Ten small-loan companies have been established in the city, and three township banks cover the whole town.

The balance of deposits of all foreign currencies reached 962.78 billion yuan ($156.17 billion) in 2012, an increase of 72.65 billion yuan compared to the beginning of last year and a growth of 11.9 percent compared to the same period last year. The balance of loans for both local and foreign currencies is 850.62 billion yuan, an increase of 100.83 billion yuan compared to the beginning of last year and 16.5 percent compared to the same period last year. Incremental loans in the entire year are expected to exceed 110 billion yuan. The income from insurance expense is 13.29 billion yuan in the city, with the growth rate ranking eighth among 15 vice-provincial cities, an increase by five ranks compared to the beginning of the year.

The added value of the finance sector during the first three quarters in 2012 reached 28.05 billion yuan, an increase of 17.8 percent compared to the same period last year. The growth is 7.7 percent higher than the GDP growth in the city, and the growth ranks first among all sectors in the city. The proportion of the financial sector that accounted for GDP in the city reached 5.4 percent. The proportion of the financial sector that accounted for incremental value in the city’s service sector reached 11.48 percent. The entire finance sector totaled 6.9 billion yuan, among which local finance reached 4.81 billion yuan, an increase of 64.8 percent year-on-year.

2. Central areas of Qingdao's financial sector

Finance Street on Hong Kong Street: The street reflects the development trend of the financial sector.

Financial and commercial district of Laoshan district: The district expands the layout of the financial sector and maintains a strong development trend.

Development district of Qingdao city: The district is a provincial-level system reform district for investment and finance.

High-tech district of Qingdao: The district is currently establishing the science and finance center, promoting the "New Third Board" (an over-the-counter market for growth enterprises) and achieving great results. Development district of Qingdao city: The district is a provincial-level system reform district for investment and finance.