This year marks the 40th anniversary of the Shenzhen Special Economic Zone. To mark the occasion, we are publishing a series of reports celebrating the city’s achievements in different aspects over the past four decades.
The total assets of Shenzhen’s financial industry have exceeded 15 trillion yuan (US$2.16 trillion) following 40 years of development, according to Shenzhen Economic Daily.
Data suggests that the added value of the city’s financial industry reached 366.76 billion yuan last year, up 9.1 percent year on year.
The added value made up 13.6 percent of last year’s total GDP.
The tax revenue from the financial industry (securities transaction stamp tax and tax claimed by customs not included) last year was 152.24 billion yuan, accounting for 24.7 percent of the city’s total tax revenue.
In terms of the banking industry, the asset of the industry’s financial institutions reached 8.9 trillion yuan at the end of last year, over four times the size of the assets at the end of 2007.
The balance of the city’s domestic and foreign currency deposits last year was 8.39 trillion yuan while the balance of the city’s domestic and foreign currency loans was 5.95 trillion yuan at the end of last year.
The city’s deposit and loan scale ranked third in the country, second only to Beijing and Shanghai.
At the end of 2007, Shenzhen had 1.27 trillion yuan in deposits in domestic and foreign currencies, ranking fourth among large and medium-sized cities in the country; the balance of various loans was 1.01 trillion yuan, slightly surpassing Guangzhou.
It is worth noting that Shenzhen’s financial industry is increasing its support for inclusive finance. In 2019, the balance of loans to small and micro-sized enterprises was 1.17 trillion yuan, a year-on-year increase of 24.24 percent.
The balance of loans to private companies was 1.87 trillion yuan, up 19.11 percent year on year.
In terms of the securities industry, Shenzhen’s 22 securities companies had total assets of 1.71 trillion yuan with 84.19 billion yuan in revenue, ranking first in the country.
The net assets of the 22 securities companies were 419.88 billion yuan, with net capital of 329.04 billion yuan and net profit of 30.85 billion yuan, ranking second in the country following Shanghai.
The city had 4,566 private equity fund managers registered with the China Securities Investment Fund Industry Association by the end of 2019.
The management scale reached 1.8 trillion yuan, an increase of 1.2 percent year on year, which ranked third in the country, following Beijing and Shanghai.
Shenzhen had eight registered insurance companies in 2007. The number increased to 27 last year, ranking third among big and medium-sized cities in the country. The total assets of the insurance companies were 4.85 trillion yuan, ranking second in the country.
The city’s financial industry also led the country in innovative reform. The city saw the first government bond transaction since 1949, the first securities company, the first listed bank, the first joint-stock insurance company, the first foreign bank, the first foreign-funded insurance company, and the first foreign exchange swap center.