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Dalian powering ahead as financial heavyweight

By Han Tianyang (China Daily)
Updated: 2009-09-11 07:49

Dalian is home to nine foreign banks and 24 other foreign financial institutions.

Headquarters in Dalian

Currently, a number of financial institutions have established headquarters or regional headquarters in Dalian, including:

Bank of Dalian

Founded in 1998, the bank also has branches in Tianjin, Beijing, Shenyang and Chengdu. By the end of 2008, its total assets were 85.5 billion yuan, with a total deposit balance of 75.2 billion yuan and a total loan balance of 46.5 billion yuan. According to the British magazine Banker, the Bank of Dalian ranks 25th among domestic banks.

Huaxin Trust Investment Co Ltd

Established in 1987, it is the only trust company in Liaoning province. At the end of last year, the company was entrusted to manage total assets of 30.5 billion yuan.

Dalian Rural Credit Union

Founded in 2000, it has seven county-level credit cooperatives and one rural cooperative bank. The union's total assets were 33.9 billion yuan in 2008, with a total deposit balance of 29.7 billion yuan and a total loan balance of 19.3 billion yuan. The union is currently deepening reform in order to build a rural commercial bank.

Daton Securities

Founded in 2001 and restructured in 2006, it is the only comprehensive securities company in Liaoning. It has 26 business departments and three service departments in 20 cities across China. Its turnover in securities was 204.8 billion yuan in 2008.

ING Capital Life Insurance Co

Established in 2002, the company has branches in Beijing and the provinces of Liaoning, Shandong, Henan, and Anhui. Its insurance premiums totaled 1.82 billion yuan last year.

Sompo Japan Insurance (China) Co Ltd

Established in 2005, the company has branches in Shanghai and Guangdong province. Graded as an A-level company by Standard and Poor's rating agency, its insurance premiums totaled 223 million yuan last year.

Aeon Life Insurance Co Ltd

Founded in June 2009 with 1.11 billion yuan registered capital, the company is preparing to build branches in the provinces of Hubei, Hebei and Liaoning. It plans to set up affiliates in major cities across the country within five years.

Xinghai Financial Town under construction is planned to become the city's financial hub.

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