VIII. The Financial Sector
The local credit market remained stable. By end of 2015, RMB deposits of financial institutions across the city grew by 51.23 billion RMB to 743.87 billion RMB, up by 7.4% over 2014. Of the total, household savings grew by 4.7% to 319.38 billion RMB. Loans of all the financial institutions in the city increased by 56.48 billion RMB to 535.46 billion RMB, up by 11.8%. Of the total, household loans hit 123.38 billion RMB, up by 15.2%. Besides, progress was made in financial reforms and innovation. For instance, the Jiangnan Financial Leasing Co., Ltd. was successfully established and became operational.
The local insurance sector maintained a steady growth. By end of 2015, insurance companies across the city totaled 67, among which were 28 property insurance companies and 39 life insurance companies. Insurance premium throughout the year grew by 15.6% to 15.66 billion RMB, among which life insurance premium grew by 17.0% to 10.49 billion RMB while property insurance premium grew by 13.2% to 5.17 billion RMB. Insurance companies paid an indemnity of 5.51 billion RMB in 2015, up by 12.5% in comparison to 2014. Of the total, life indemnity stood at 2.17 billion RMB, down by 6.5% whereas property indemnity surged by 29.5% to 3.34 billion RMB.
The local stock market was active. By end of 2015, there were 40 securities business offices across the city, managing over 960,000 securities accounts with 124.65 billion RMB worth of A shares. The total securities transaction volume in 2015 surged by 229% to 3217.23 billion RMB, among which A-share transactions surged by 275.9% to 2894.68 billion RMB, B-share transactions surged by 408.4% to 3.5 billion RMB, fund transactions grew by 132.0% to 74.94 billion RMB, and bond transactions increased by 39.6% to 244.11 billion. By end of 2015, there were 38 publicly traded local companies with an aggregate financing of 40.9 billion RMB, among which 24 were domestically traded companies and 14 were internationally traded ones. Two companies had their Initial Public Offerings ( IPO ) in 2015, i.e. Changzhou Tronly New Electronic Material Co., Ltd and Changzhou Tenglong Auto Parts Co., Ltd, raising a total fund of 710 million RMB.
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