Financial industry maintains energetic development

By Liu Yufen (chinadaily.com.cn)

Updated: 2014-02-17

The financial industry maintained rapid and sound development in the Inner Mongolia autonomous region in 2013, aiding in the promotion of the regional economy.

Accounted for 9.2 percent of Inner Mongolia’s tertiary industry added value, the added value of the region’s financial industry reached 56.3 billion yuan ($9.28 billion) in 2013, an increase of 10.3 percent year-on-year, or 1.3 percentage points higher compared with the growth rate of the gross regional domestic product and 3.2 percent higher than the added value growth rate of the region’s tertiary industry.

By the end of 2013, the total assets of the banking industry rose 13.4 percent year-on-year to 1.2 trillion yuan. Fixed assets investment in the financial industry grew at a rate of 37.9 percent. A total of nearly 200,000 people engaged in this industry, with over 3,600 more graduates newly employed by financial institutions in 2013.