“Early Spring Trip” Symposium and Financial Cooperation Signing Ceremony 2016 was held in Yichang on April 20 to financially help economic development of Yichang. Cooperation agreements worth US$14.89 billion were reached among financial institutions, governments at municipal, county and district levels, relevant departments and enterprises, which inject fresh momentum for economic transformation and upgrade in Yichang.

Vice Governor Cao Guangjing, Director of Hubei Financial Office Liu Meipin, Deputy Secretary of Yichang Municipal Party Committee and Yichang Mayor Ma Xuming, Vice Mayor Huang Liming and other relevant officials attended the symposium and ceremony, which also attracted senior officials of many key financial institutions and enterprises, including Wuhan Branch of People’s Bank of China (PBC), Hubei Banking Regulatory Bureau, Hubei Securities Regulatory Bureau and Hubei Insurance Regulatory Bureau.

At the meeting, Cao appreciated the achievement made during the 12th Five-Year Plan and the implementation of Five Development Concepts of innovation, coordination, green, open and sharing, and pinned his hope upon Yichang “135” strategic system and two strategic targets, namely “Two Priorities” (taking the lead in poverty relief and building all-around moderately prosperous society) and “Two Progresses” ( ranking among top 50 cities nationwide regarding to comprehensive strength and outstanding other central and western cities). He required that financial system in Hubei should increase input to credit and load, promote financial reform and innovation and step up multilayered capital market construction so as to attract insurance capital and investment. The local government should enhance its credit; strengthen financial risks control and prevention capacity and build a favorable environment for financial industry. At the same time, we should make efforts to link industry funds of the Yangtze River Economic Belt with Yichang’s economic development, thus promoting local economic and social development.

Ma made an introduction to those who attended the meeting on economic and financial development, plan and service demands of Yichang. The senior officials with financial regulation agencies and financial organs at the provincial level made speeches and commitments regarding the support of economic transformation and upgrade and boosting central city construction. He said they would offer helps and allocate more resources to Yichang in aspects such as scale of credit and load, institutional system improvement and direct financing guide.

At the subsequent signing ceremony, representatives of five financial institutions at municipal level signed cooperation agreements on targeted poverty alleviation and medical insurance with representatives of five local governments; representatives of six financial institutionsat municipal levelsigned cooperation agreements of credit extension supporting city construction with representatives of six enterprises. Credit and load cooperation agreements to support industry development and green development were respectively signed between representatives of five financial institutions at municipal level and five enterprises. Cooperation agreements about “cooperatives + finance”, serious illness medical insurance, poverty relief insurance and guidance work on share transfer listing were signed among five financial institutions and five new type organizations, government departments and enterprises.

According to statistics, the value of the agreements reached during the financial “Early Spring Trip” activity was up to US$14.89 billion. It is learned that this activity focused on medium-, small- and tiny enterprises as well as people’s livelihood, highlighting service-oriented sectors. 26 enterprises and units participated in the activity, 10 of which were medium-, small- and tiny enterprises. These agreements involved six agricultural and ecological and environment protection programs, and several projects having a bearing on people’s livelihood, including four infrastructure construction projects, four shantytown renovation projects and three medical insurance projects. A total of 26 targeted poverty alleviation projects were signed, involving an amount of US$0.54 billion. 90 start-ups and innovative enterprises were supported, involving US$5.16 billion. By doing so, we can realize local economic and social development through financial support with accurate cooperation of high complementarity. (Reporter Wei Wei)