Sanmenxia to bolster its real economy

Sanmenxia and its banks and financial institutions pledged to provide more support to the real economy at a conference held in the Henan province city on Aug 9.

Real economy refers to companies which produce goods and services, as opposed to those which buy and sell on financial markets.

An Wei, mayor of Sanmenxia city attended the conference, and said that while the city’s financial operations are smooth, the development of private sector financial institutions was still unbalanced.

In response, An urged the local financial institutions to focus on the city’s competitive real economy industries, such as equipment manufacturing, jewel crafting, tourism and agriculture.

He also urged for a better cooperation model between banks and the city to be established, to provide improved financial products, services and administrative efficiency.

Edited by Zachary Dye