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Wuhan Branch Actively Facilitates the “Financial Sector Supports Wuhan City Sphere Development” Initiative


Since December 8 last year, when the People's Bank of China Wuhan Branch launched the “Financial Sector Supports Wuhan City Sphere Development” Initiative, Industrial Bank Wuhan Branch has sharpened its sense of commitment to society and intensified its support for four major industries under market principles as a commercial bank; it has also been actively involved in the development of the Wuhan city sphere, bringing about win-win results for the government, the bank and the enterprise.

Up to the end of September, the Wuhan Branch had made new loans totaling RMB 6.102 billion in support of the development of the Wuhan city sphere. Firstly, the bank has given priority to the real estate industry, which has a significant influence on government finances and the improvement of people's living condition, and has made loans with a cumulative amount of RMB 1.321 billion; with a multiplier effect, such loans have effectively stimulated the development of personal housing credit business. Secondly, the bank has provided vigorous support to a number of city-level wholesale and retail enterprises, such as Wuhan Department Store Group Co., Ltd., and made loans with a cumulative amount of RMB 912 million. Thirdly, to revive and boost Wuhan's status as a manufacturing hub, the bank has supported various top-performing enterprises in the manufacturing industry, such as Tianyun Boiler, and made loans with a cumulative amount of RMB 688 million. Fourthly, in view of Wuhan's strategic geographic location as the “gateway to nine provinces”, the bank has stepped up support for the modern logistics industry and has made loans with a cumulative amount of RMB 193 million to transportation projects with ample cash flows via state-owned highway operators.

By intensifying support for above key industries, Industrial Bank Wuhan Branch has not only optimized its credit extension structure, but also contributed to the development of the Wuhan city sphere, bringing about a common prosperity and growth of the bank, the government and the enterprise. Industrial Bank's contributions in this regard have earned the recognition and praises of the Wuhan Municipal Government and the People's Bank of China Wuhan Branch; as a result, the bank's name recognition and awareness in the Wuhan area have been expanded.