The past decade has witnessed the leapfrog development of Shenzhen's banking and insurance industry. According to the news of the Shenzhen Banking and Insurance Regulatory Bureau, in the past ten years, the Shenzhen banking and insurance Regulatory Bureau has adhered to the general tone of seeking progress while maintaining stability, and the face of the banking and insurance industry has undergone great changes, and the level of products, services and management has reached a new level. The main indicators of the industry development rank in the forefront of large and medium-sized cities in the country.

The comprehensive strength of the industry ranks "Top three"

In the past ten years, the number of legal institutions and provincial branches of banking and insurance in Shenzhen has increased from 38 and 133 to 67 and 157, ranking third in the number of large and medium-sized cities in the country. The total assets of the banking industry under the supervision of Shenzhen Banking and Insurance Regulatory Bureau increased from 4.58 trillion yuan to 12.01 trillion yuan, and the scale of deposits and loans increased from 2.92 trillion yuan, 2.18 trillion yuan to 8.56 trillion yuan and 8.34 trillion yuan, ranking third among large and medium-sized cities in China, respectively 2.62 times, 2.93 times and 3.83 times of the end of 2012.

The total assets of insurance legal persons in Shenzhen increased from 1.58 trillion yuan to 6.33 trillion yuan, accounting for 23.78% of the total assets of insurance institutions in the country, ranking second in the country's large and medium-sized cities. Insurance institutions supervised by Shenzhen Banking and Insurance Regulatory Bureau will achieve original premium income of 142.651 billion yuan in 2021, with an average annual growth rate of 15.13% over the decade. The insurance depth increased from 3.10% to 4.65%, and the insurance density increased from 3,804 yuan/person to 8,124 yuan/person. The insurance industry spent 46.605 billion yuan on claims, with an average annual growth rate of 17.68%.

At the same time, Shenzhen's banking and insurance industry has made important achievements in tackling chaos, promoting compliance, and preventing and resolving financial risks. The non-performing loan ratio of Shenzhen banking financial institutions remains at a low level and continues to outperform the national level. The capital adequacy ratio of small and medium-sized corporate banks has been kept above 13%, and the provision coverage ratio has always been higher than the regulatory requirement of 150%. The average comprehensive solvency adequacy ratio of insurance legal entities under territorial supervision is 237%, the average core solvency adequacy ratio is 176%, and the risk resilience and response resources are sufficient.

Inject "living water" from the financial sector into the real economy

Economy is the body, finance is the blood. In the past ten years, the balance of manufacturing loans in Shenzhen has increased from 0.39 trillion yuan to 1.06 trillion yuan, with an average annual growth rate of 10.14%.

At the end of June 2022, the balance of loans to strategic emerging industries in Shenzhen was 644.532 billion yuan, and the balance of loans to science and technology enterprises was 788.045 billion yuan, ranking first among large and medium-sized cities in China.

In the face of the COVID-19 epidemic, banks and insurance institutions in Shenzhen implemented a series of relief measures to help enterprises, providing 2.74 trillion yuan of credit for small and micro enterprises to prevent and control the epidemic and resume production, deferring principal and interest payments for 237,000 enterprises and individuals in difficulty, and providing 769.722 billion yuan of insurance risk protection for frontline personnel and 40,600 catering enterprises.

Shenzhen's banking and insurance industry focuses on specialized and special new enterprise financial services, 92% of Shenzhen's state-level specialized and special new "little giant" enterprises have obtained credit support, and high-tech research, the first set of equipment, and the first batch of new material application enterprises have obtained science and technology insurance protection of 3.55 trillion yuan.

In the past decade, the Shenzhen banking and insurance industry has continuously expanded financing channels for foreign trade enterprises, increased export credit insurance support, optimized exchange rate hedging and cross-border RMB settlement services, and helped Shenzhen enterprises to "sail to the sea". As of the end of June 2022, the balance of foreign trade loans of Chinese banks in Shenzhen is 896.764 billion yuan, with an average annual growth rate of 27.13% since statistics, which is 15.07 percentage points higher than the growth rate of various loans. The "Grand Unified insurance" policy has provided a total of $60 billion of risk protection for more than 24,000 small and medium-sized foreign trade enterprises, leading the national key foreign trade provinces and cities in support.

In the past ten years, Shenzhen's banking and insurance industry has benchmarking international mainstream standards around "Building a green financial system" and achieved a number of national "first single" breakthroughs. Cooperate with the municipal government to implement China's first "Green Finance Regulations", and formulate the country's first "New Energy Vehicle Insurance underwriting and Claims Work Guidelines". China takes the lead in implementing compulsory environmental pollution liability insurance, issues the first "carbon neutral" thematic green financial bonds and charitable trusts, releases the first trial calculation method and results of carbon footprint disclosure of investment and financing activities, and designs the first valuable personal carbon account system. By the end of June 2022, the balance of green loans was 585.79 billion yuan, with an average annual growth rate of 29.17% since statistics were available, 13.87 percentage points higher than the growth rate of various loans.

Huimin Financial in-depth "ordinary people's homes"

In terms of livelihood security, in 2015, Shenzhen insurance institutions took the lead in launching supplementary medical insurance for serious and serious diseases, creating a precedent for inclusive insurance business in China. In 2020, we will once again take the lead in launching urban customized medical insurance. In 2021, it also innovated and launched the first urban customized insurance products focusing on 28 kinds of high incidence and serious diseases in China. The inclusive insurance business creatively combines commerciality and inclusive, and is highly recognized by Shenzhen citizens. As of the end of June 2022, the number of participants in the inclusive insurance business in Shenzhen exceeded 9.5 million, ranking first in the country, and the cumulative compensation amount of 1.628 billion yuan, effectively playing the role of the insurance industry as a "social stabilizer".

Shenzhen took the lead in the country to improve the quality and effectiveness of financial services for the elderly in the form of normative documents, completed barrier-free transformation of 1,517 banking and insurance institutions, set up 1,092 exclusive service Windows for the elderly, "Zhizhi Help the elderly e station" to help the elderly across the digital divide, and smart pension card covers 93% of the elderly population. The first batch of pilot pension financial products, the cumulative subscription amount of investors accounted for more than 40% of the country.

In terms of consumer rights protection, Shenzhen has innovated rights protection mechanisms and promoted social co-governance. The first insurance consumer rights and interests protection agency with independent legal personality and the first banking consumer rights and interests protection professional agency in the country have been established. The United City Intermediate Court and the Shenzhen Central Branch of the People's Bank of China have established and improved a diversified resolution mechanism for financial disputes. Carry out a series of activities of "Financial Knowledge Popularization Month" and "Financial Consumer Rights and interests Protection Education and Publicity Week" on a regular basis, build Shenzhen's financial education and publicity brand "Financial savvy", teach and enjoy, so that consumers can "understand and remember", and protect the "money bag".

A good answer to The Times of the demonstration zone

Shenzhen is the bridgehead of China's reform and opening up, and the core engine of the Guangdong-Hong Kong-Macao Greater Bay Area. In the past ten years, Shenzhen has continuously delivered new answers for the first demonstration.

Focusing on the "double zone" construction and "double reform" demonstration, the Shenzhen Banking and Insurance Regulatory Bureau, in collaboration with provincial and municipal financial management departments, jointly issued a number of financial support policies and programs, and launched 29 guidelines for the new development pattern of Shenzhen's financial industry services. We plan to take the lead in building a high-quality modern economic system, enhance the quality and efficiency of financial services for economic and social development, deepen financial reform, opening up and innovation, and build a global financial technology center, so as to lay out and implement plans for financial support for the development of the Greater Bay Area and pilot demonstration zones.

In the past ten years, Shenzhen's banking and insurance industry has insisted on reform and innovation as a strong support for fulfilling its historical mission in the new era, and has launched a number of characteristic institutions such as the first Internet private bank in China, the first consumer finance company under the CEPA framework, the first foreign-funded "double license" bank, the first mutual insurance company and the first Taiwan-funded bank subsidiary in South China. China takes the lead in implementing a catastrophe insurance system, and builds a three-in-one catastrophe insurance system featuring government assistance, catastrophe fund and individual catastrophe insurance. The country's first opinion on the implementation of the new insurance intermediary market system has been issued to promote the construction of the "one and five dimensions" new insurance intermediary market system. It issued the first national insurance network broadcast and short video insurance marketing and publicity behavior basic norms, formulated the country's first independent individual insurance agent registration matters work guidelines, to standardize related businesses to create a "Shenzhen sample" for reference and copy.

Over the past decade, Shenzhen's banking and insurance sectors have continued to deepen opening-up and cooperation, accelerating from the establishment of institutions in Guangdong, Hong Kong and Macao to the integration of the financial market in the Greater Bay Area. By the end of June 2022, the number of foreign-funded financial institutions in Shenzhen has reached 70, ranking third in the country, and a comprehensive and functional financial institution system has been formed. Among the foreign banks in Shenzhen, the assets, deposits, loans and net profits of Hong Kong-funded banks account for more than 70%, and Shenzhen has become the city with the highest concentration of Hong Kong-funded banks.

Shenzhen's banking and insurance sector has taken the development of the Guangdong-Hong Kong-Macao Greater Bay Area as an opportunity to innovate cross-border connectivity. Over the past decade, the Greater Bay Area has witnessed the increasing convenience of cross-border financial services such as account opening, payment, investment and financing, and accelerated the implementation of innovative pilot projects such as cross-border wealth management Connect and cross-border insurance fund exchange facilitation. Twenty-four banks qualified for the pilot of the "Cross-border Wealth Connect" and opened a total of 12,560 accounts related to the "Cross-border Wealth Connect", accounting for about one-third of the total business of the "cross-border Wealth Connect" in the Greater Bay Area. At the same time, 23 life insurance companies launched 64 innovative cross-border medical insurance and exclusive serious illness insurance products, and 10 property insurance companies carried out cross-border auto insurance business, realizing "three places and one place insurance for auto insurance".

The reform will not stop, and the struggle will not stop. In the new era and new journey, the Shenzhen Banking and Insurance Regulatory Bureau and the Shenzhen banking and insurance industry will strive to write more "spring stories" and meet the victory of the Party's 20th Congress with excellent results.