Financial Work

   With the development of economy, the local financial ability has been constantly strengthened. In 2003, a total of financial income was 9.162 billion yuan, and general budget income was 3.335 billion yuan. The financial expenditures are characterized by the public finance. The general budget expenditure was 4.277 billion yuan, up 16.3 per cent from the last year. The expenditures for science and technology, culture and education, health, sport, social relief and social security departments have been increasing yearly.

   Taiyuan, a financial centre in the province, has 15 banks and financial institutes, strongly supporting the economic development in the city. At the end of 2003, a total balance of deposits of finance reached 153. 459 billion yuan and a total balance of loans of financialinstitutions were 110.492 billion yuan.

   The diversities in economic activities and the improvement of people's material and cultural life bring about the promotion of people's insurance awareness. The insurance industry has been rapidly developing, with many insurance companies operating in Taiyuan,such as Ping' an, cific, XinHua, Yong An, and the People's Insurance of China, etc. A brilliant prospect in insurance industry is expected. In 2003, a total of acceptance insurance was 162.337 billion yuan, with insurance business income of 2.028 billion yuan and reparation payment of 319.00 million yuan.