The Zhejiang branch of Bank of China (BOC) plans to offer more than 120 billion yuan ($17.14 billion) worth of credit to Taizhou, East China's Zhejiang province, in the following five years, according to a signing ceremony between the Taizhou Municipal Government and BOC Zhejiang branch held in the city on July 28.

Wu Haiping, mayor of Taizhou, said at the signing ceremony that, as a State-level pilot city for the reform of financial services for small and micro-sized businesses, Taizhou is the only prefecture-level city in China with three municipal commercial banks.

In recent years, the city has concentrated on improving real economy with the help of the financial sectors and created a complete financial industrial chain involving banks, insurance, security, and trust, Wu added.

Taizhou has explored its own model of offering targeted financial assistance to and ensuring the stable operation of small and micro-sized businesses, with a focus on real economy, according to the mayor.

He expressed hope that BOC Zhejiang branch will support economic and social development in Taizhou and launch more high-quality financial products to satisfy the financing demands of more types of companies.

Wu Min, president of BOC Zhejiang branch, noted that BOC will make full use of its global, comprehensive and professional services to contribute to the high-quality development of the private economy in Taizhou.

Wu Haiping, mayor of Taizhou, delivers a speech at a signing ceremony between the Taizhou Municipal Government and the Zhejiang branch of Bank of China on July 28. [Photo/WeChat account: tzfb001]