Baotou financial industry maintains growth

The financial industry of Baotou, North China’s Inner Mongolia autonomous region, recorded continued growth in 2017, with performance in every aspect indicating steady growth, according to a Nov 23 report.

The city now boasts 32 banks and financial institutions, providing financial services including security, futures, trusts and small loans.

The total amount of loans and deposits are on the rise. The deposit balance stood at 420.07 billion yuan ($63.80 billion) up to the end of September, year-on-year growth of 40.28 percent. The loan balance stood at 289.10 billion yuan, year-on-year growth of 20.8 percent.

The tax revenues of the city’s financial industry hit 2.56 billion yuan up to the end of September, taking up 12.63 percent of the city’s total tax revenue.