A Chinese clerk counts renminbi yuan banknotes in Nantong, East China's Jiangsu province. [Photo/IC]

The Information Office of Shandong Provincial People's Government held a news conference on Jan 25 to introduce the province's financial industry in 2021.

Official statistics showed that in 2021, social financing in Shandong reached 17.24 trillion yuan ($2.72 trillion), a year-on-year increase of 13.17 percent, 2.87 percentage points higher than the national average. The balance of deposits and loans in local and foreign currencies exceeded 13 trillion yuan and 11 trillion yuan respectively.

Last year, there were 37 newly listed companies in the province, bringing the total number of listed companies to 371. Among them, 33 companies were newly listed on the Shanghai and Shenzhen stock exchanges. The total number of companies listed on the Beijing Stock Exchange reached 7, ranking fourth in China.

The direct financing of stocks and bonds in Shandong totaled 895.75 billion yuan in 2021, up 14.86 percent year-on-year.

The provincial insurance industry has provided 340.43 trillion yuan in risk protection for economic and social development, and paid 114.03 billion yuan in compensation.

In 2021, the added value of the manufacturing industry above designated size increased by 10.1 percent year-on-year. Medium- and long-term loans invested in the manufacturing industry increased by 26.1 percent year-on-year.

Significant progress was also made in providing financial services to small and micro businesses and in rural revitalization.