Jinan, capital of East China's Shandong province, will serve as the host city for the 2021 CICA Finance Summit, which indicates the city's robust development in the finance industry.

The 2021 CICA Finance Summit, which will be held from April 17 to 18, will be attended by over 300 guests, who will discuss exploring new patterns for regional economic growth in Asia and new mechanisms for financial cooperation in CICA, as well as share achievements related to science and technology.

The finance industry in Jinan saw rapid and healthy development in 2020, with its major economic indicators leading Shandong province. The added value of the sector reached 96.85 billion yuan ($14.85 billion), up 8.7 percent year-on-year and accounting for 21.2 percent of the provincial total.

The real economy provides strong support for the finance industry. Jinan's GDP hit 1.01 trillion yuan in 2020, making it a member of China's one-trillion-yuan GDP club. Long-term loans from the manufacturing sector reached 38.3 billion yuan, up 29 percent year on year.

The Conference on Interaction and Confidence Building Measures in Asia (CICA) is a multilateral cooperation body that seeks to promote peace, security, and interaction in Asia. It now has 27 member states and 13 observers including eight states and five organizations.

The CICA Finance Summit will provide an opportunity for Jinan to deepen financial cooperation with Asian countries, officials said.