Financial industry

The Suzhou New District raised the idea of building a financial town at the beginning of 2016, focusing on developing a new financial service sector with a core placement of private equity funds.

The financial town was jointly developed by the Suzhou New District and the China Merchants Group, and has introduced more than 300 funding bodies with a management capital of over 60 billion yuan ($ 9.52 billion). A number of well-known investment institutions, such as Shenwan Hongyuan Group and CMBC International, have successively settled there.

By the end of 2017, there were 193 financial institutions of various types in Suzhou New District. The balance of bank deposits was 167.66 billion yuan. Outstanding loans amounted to 171.637 billion yuan. Premium income in insurance institutions reached 25.48 billion yuan and the added value of the financial industry was 8 billion yuan. The number of listed companies increased stably, adding five NEEQ (the China's National Equities Exchange and Quotation, also known as the "new third board”) enterprises. There are now 16 IOP companies and 47 NEEQ companies in Suzhou New District, with market value of the listed companies exceeding 100 billion yuan.