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¡¡¡¡Finance, Securities and Insurance
¡¡¡¡Xi¡¯an is the largest financial center of northwest China where Xi¡¯an Branch of the People¡¯s Bank of China locates. A multi-diversification and multilevel financial system has taken shape in which many different financial institutions co-exist with state-owned commercial banks and state policy banks as the main body. The Bank of East Asia was established in Xi¡¯an in 2001, which is the first foreign-funded bank of northwest China. By the end of 2004, the deposit balance of various financial institutions of Xi¡¯an totaled to RMB 306.17 billion Yuan and the loan balance RMB 205.23 billion, up 14.9% and 9.6% respectively over 2003.
¡¡¡¡Securities market is developing healthily with active transactions. By the end of 2004, Xi¡¯an possessed 53 stock exchanges and 18 stockjobbers had listed at home. In 2004, the turnover of all kinds of securities in the securities market of the whole city reached RMB 166.21 billion Yuan, of which the turnover of stocks was RMB 96.18 billion Yuan, up minus 4.1% and 32.2% over 2003, respectively.
¡¡¡¡Insurance business of Xi¡¯an is developing rapidly. By the end of 2004, there were 14 insurance companies of all kinds and 34 insurance intermediary services, offering various property and life insurance services. The headquarter of Yong An Property Insurance Co., Ltd. is set up in Xi¡¯an. In 2004, the income of insurance totaled to RMB 3.99 billion Yuan, and RMB 810 million Yuan was paid as indemnity and payment, up 9.7% and 24.2% over 2002, respectively.
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