Shanxi works on financial cooperation

An asset management company has been set up in North China's Shanxi province to offer better financial services for the province, Shanxi Daily has reported.

The company, operated by the China Huarong Asset Management Co Ltd, one of China's four financial asset management companies, was unveiled on Feb 18, in Taiyuan, capital of Shanxi province. Meanwhile, a signing ceremony of strategic cooperation with the Shanxi government was attended by Wang Rulin, secretary of Shanxi Provincial Party Committee and Li Xiaopeng, governor of the province.

The newly-built financial platform--Huarong Jinshang Asset Management Co Ltd -- will provide the province with a package of financial services, with a focus on asset management, investment, banking, securities, trust services, financial leasing, real estate, training and research.

Since it began cooperating with the Shanxi provincial government in 2012, the China Huarong Asset Management Co has put over 30 billion yuan （$4.6 billion) into many sectors through credit, investment, trust, and leasing services, including finance, the chemical industry, coal, steel and iron, machinery, real estate, medicine, technology, and department stores.

Wang Rulin, secretary of the Shanxi Provincial Party Committee, and Li Xiaopeng, governor of Shanxi province, attend the signing ceremony for strategic cooperation with China Huarong Asset Management Co Ltd, on Feb 18. [Photo by Li Lianjun]