Qingdao's aggregate credit figure will reach 1.109 trillion yuan (US$ 179 billion) in 2011, accounting for approximately 23% of the province's total credit, according to the Qingdao municipal sub-branch of the People's Bank of China. Aggregate credit includes loan, acceptance bills, letters of credit and guarantees.
According to statistics, RMB and foreign currency-denominated deposits in the city totaled 871.3 billion yuan (US$ 138.1 billion); registering a 10.3% or 81.5 billion yuan (US$ 12.9 billion) increase on similar deposits made at the beginning of 2011.
Outstanding loans in RMB and foreign exchanges in various forms reached 750 billion yuan (US$ 118.9 billion), accounting for approximately 20.2% of the province's total. The loans registered an 18.1% or 114.7 billion yuan (US$ 18.2 billion) increase on loans made at the beginning of 2011.
Banks in Qingdao give significant support to key projects across a range of sectors, including the advanced manufacturing industry and strategic and rising industries.
The bottleneck in charges on intangible assets in these sectors has been removed in order to expand financing channels.
