QINGDAO has sped up its development to become a regional financial center and has welcomed 10 financial organizations including banks and insurance companies this year.

    There are currently 143 financial organizations in the city, including 44 banks, 54 stocks and futures brokerages and 45 insurance companies. Among these, nine are corporate financial companies and 22 are foreign financial companies.

    Local financial companies have also set up branches outside the city. At present, six commercial banks, such as Qingdao Bank, Industrial Bank and China Minsheng Banking Corp., have 10 branches in Shandong Province, and CITIC Wantong Securities has 22 branch offices outside the city.

    Another six banks, including Bank of China, Bank of Communications and China Construction Bank, have set up or are planning to set up personal banking facilities in Qingdao soon.

    (Wang Yuanyuan, Fu Jun)