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The financial sector in Jiaxing, East China's Zhejiang province, has been supportive of local real economy development, local media reported on April 7.

The outstanding loans in the city totaled 1.09 trillion yuan ($166.45 billion) as of February this year, 10.84 billion yuan more than last year and the third largest increase in the province.

The city's outstanding loans for the manufacturing industry amounted to 246.78 billion yuan as of February, a year-on-year increase of 19.37 percent and 15.99 billion yuan more than at the beginning of the year.

The value of non-performing outstanding loans in Jiaxing reached 4.37 billion yuan, 314 million yuan less than at the beginning of the year, and the non-performing loan ratio stood at 0.4 percent, the lowest among Zhejiang cities.

Moving forward, Jiaxing's financial sectors will ensure a higher availability of financing for private companies and small and micro-sized businesses, realizing more than 200 billion yuan in new loans this year with 55 percent for small and micro-sized businesses.

The city also aims for more than 40 billion yuan in loans for the manufacturing industry and 8,000 first-time borrowers with a total loan amount of more than 20 billion yuan this year.

By the end of this year, the balance of government financing guarantees in Jiaxing is expected to exceed 10 billion yuan, and the balance of the Jiaxing Small and Micro-sized Enterprise Credit Guarantee Fund is expected to exceed 3.5 billion yuan.

The financial sector in Jiaxing, East China's Zhejiang province, has been supportive of local real economy development. [Photo/cnjxol.com]