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PBOC official stresses financial support for Beijing-Tianjin-Hebei

Updated: Apr 10,2017 9:33 PM     Xinhua

BEIJING — A senior official with the People’s Bank of China (PBOC), the central bank, has called for more financial support for the coordinated development of the Beijing-Tianjin-Hebei (Jing-Jin-Ji) region, according to a statement made public on April 10.

Financial institutions should find new ways to provide medium- and long-term financing for the region, PBOC deputy governor Pan Gongsheng said at a conference in Tianjin on April 7.

They should increase financial support to important areas, including infrastructure, environmental protection, industrial upgrading, innovation and poverty relief, Pan added.

“The financial sector should take the strategy of Jing-Jin-Ji coordinated development as an opportunity to advance its own development,” he said.

In 2015, central authorities approved a guideline for integrated development of the Jing-Jin-Ji region, with a focus on transferring noncapital functions from Beijing to neighboring areas.

The PBOC statement also said that the decision to establish the Xiongan New Area in Hebei province, an important move to advance Jing-Jin-Ji development, was also studied at the conference.