The first joint meeting on credit work held

Executive Vice Mayor Xiao Shengfeng makes an important speech.

Meeting scene

Yesterday, the Dalian Municipal Government held the first joint meeting on credit work in 2011 to implement the spirit of the provincial Conference on Analysis of the Financial Situation & Credit Work, summarize Dalian s credit and financing in 2010 as well as this January, analyze the financial situation of 2011, inform the progress of Dalian s major construction projects and deploy targets and tasks for credit work in 2011. Xiao Shengfeng, member of the Standing Committee of the CPC Dalian Committee and executive vice mayor, was present at the meeting and made a speech.

In 2010, the Provincial Government assigned Dalian a total incremental credit of 130 billion yuan, and the Dalian Municipal Government 200 billion yuan. Over the past year, all the banks in Dalian and relevant departments seriously carried out the targets set by both provincial and municipal governments, closely focused on Dalian s macro-urbanization and Three Centers, One Cluster , increased their credit and loan levels, and gave a great push to multi-channel financing, achieving an annual financing of 223.3 billion yuan, 23.2 billion yuan more and 11.6 percentage points higher than planned. 142.3 billion yuan was a new balance of loans in domestic and foreign currency, which accounted for 42% of the total of 340 billion yuan, 123 billion yuan more than planned and 9.4 percentage points higher than the provincial average. As of the end of last year, the total balance of loans in domestic and foreign currency of all the banks in Dalian reached 681.2 billion yuan,an increase of 26.4%, 6.7 percentage points higher than the national average, and 5.4 higher than the province s average, ranking first in vice-provincial municipalities and cities nationwide. Financing through other channels reached 80.9 billion, 10.9 billion yuan more and 15.6 percentage points higher than planned.

At the end of January, the Liaoning Provincial Government held a Conference on Analysis of the Financial Situation & Credit Work, at which Dalian was assigned a total new balance of loans of 120 billion yuan, and the Dalian Municipal Government set a target of no less than last year s. To meet the goal, Dalian worked out a financing plan for 220 billion yuan with 120 billion yuan of new balance of loansand 100 billion yuan of financing through other channels. It is learned that, in January, the new balance of loans in domestic and foreign currency in Dalian s banks was 12.6 billion yuan, accounting for 10.4% of the credit plan, 2.1 percentage points beyond the normal progress. As of the end of January, their total balance of loans in domestic and foreign currency was 693.8 billion yuan, an increase of 22.3%.

In his speech, Xiao fully affirmed the credit and financing work in 2010 in Dalian and extended his thanks on behalf of the Dalian Party Committee and the Dalian Municipal Government to Dalian s financial industry for their support of local economic development. He said that 2011 is the first year of the 12^th Five-Year Plan period and a crucial year for Dalian to take macro-urbanization as a vehicle, transform the economic development mode and promote strategic development. Owing to the state s strategies of the revitalization of the old industrial base in the Northeast and the opening and development of Liaoning Coastal Economic Zone, Dalian entered an important period of opportunity for taking the lead in the overall revitalization and establishment of a regional core city; with the progress of Dalian s macro-urbanization and Three Centers, One Cluster , Dalian has targeted 1,410 projects with 10 million yuan each, with a planned total investment of 1.62 trillion yuan, a tremendous capital demand. However, in 2011, the state is making a shift to a prudent monetary policy with tightened credit, increasing pressure on our credit growth. Xiao expects that all the banks should be clear about the context, enhance their sense of responsibility and awareness of opportunities, unify their thoughts with the decisions and deployment of the provincial and the municipal governments, clarify targets and take practical measures for credit and financing work in 2011, making new contributions for the high quality new start of the 12^th Five-Year Plan period.

Xiao put forward requirements for credit work in 2011: first, all the banks should closely focus on the deployment of the Dalian Party Committee and the Dalian Municipal Government, seriously implement their credit plans and steadily promote the credit work of the year by working hard for their size, selecting proper projects, innovating and promptly providing loans; second, governmental departments and industry regulation departments should strengthen and improve their services to help banks with difficulties, and coordinate and solve problems they encounter; third, develop new financial variety and promote multi-channel financing such as short-term bills, bond financing, listing financing, trust financing, lease financing and credit insurance in order to effectively increase financial support; meanwhile, according to the adjustment of national financial policies, offer more financial services to SMEs and three agricultures ; fourth, strengthen the self-building of banks with internal control and strict management in order to have good interaction and collaboration with the city s economy at a higher platform.

At the meeting, participants were distributed the List of Dalian s Key Projects in 2011 and the Application Form for Loans in 2011.