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Qingdao Underlines Financial Priorities to Support the Real Economy

Source：The seanews 02-06-2023 09:51:00

In 2023, Qingdao's banking and insurance sector will root for overall improvement in the local economy and for consumption recovery and expansion. To achieve the targets, priorities will be given to the areas, such as investing more financial resources in the modern industrial system and improving the amount and range of small and micro business loans.

In addition, the sector will give substantial support to the modern industrial system and channel more financial resources to the key fields, including medium and high-end manufacturing, emerging industries, and traditional industries that need transformation and upgrading. Moreover, Qingdao will help the sector seize the opportunities of such development strategies as the pilot zone for wealth management, the pilot free trade zone, and China-SCO Local Economic and Trade Cooperation Demonstration Area (SCODA), enhance financial services for "going global" of key industries and enterprises, and improve financial services to facilitate the construction of the Belt and Road Initiative. It will further widen the coverage of short-term export credit insurance, and promote enterprises to raise the capacity to prevent risks in international markets.