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Aiming to become a "financial center with international influence”, Beijing has strengthened its financial management center, continued to develop headquarters finance and specialized finance and provided services for financial headquarters and financial backup platforms, absorbed world-class emerging financial organizations, cultivated new financial patterns including offshore finance, direct investments by securities traders and trust leasing. It improved its functions as a bond issuing and settlement center. Beijing's financial industry has become a pillar industry supporting its socio-economic development.
Beijing has formed a "one center, one sub-center, three new zones and four backup platforms" financial development pattern. "One center" is Financial Street, which emphasizes development of headquarters finance. "One sub-center" is the Beijing Central Business District, concentrating on developing global finance. "Three new zones" are the West Zone of Zhongguancun, mainly combining science and technology with finance; the East Second Ring Transport and Business Zone, mainly developing industrial finance; and the Lize Finance and Business Zone, emphasizing new financial patterns. "Four backup platforms" are Haidian Daoxiang Hu, Chaoyang Jinzhan, Tongzhou New Town and Xicheng Desheng. The "one center, one sub-center, three new zones and four backup platforms" are home to 90 percent of Beijing's financial organizations and financial personnel. In 2011, their industrial added value accounted for about 16 percent of Beijing's GDP and tax revenues accounted for more than one-third of Beijing's total.
In 2011, the added value of Beijing's financial industry was 205.5 billion yuan ($31.81 billion), an increase of 4.4 percent over 2010, accounting for 6.7 percent of Beijing's GDP. At the end of 2011, the balance of renminbi and foreign currency deposits of Beijing's financial organizations (including those foreign-invested) was about 7.5 trillion yuan, an increase of 862.13 billion yuan over the beginning of 2011. The balance of renminbi deposits was about 7.27 trillion yuan, an increase of 842.7 billion yuan. The balance of renminbi and foreign currency loans of Beijing's financial organizations (including those foreign-invested) were about 3.97 trillion yuan, an increase of 336.92 billion yuan over the beginning of 2011. The balance of renminbi loans was about 3.34 trillion yuan , an increase of 418.06 billion yuan.
In 2011, combined securities transactions were valued at approximately 7.91 trillion yuan, a year-on-year decrease of 9.7 percent. Stock transactions were valued at 6.17 trillion yuan, a year-on-year decline of 22.7 percent; those of funds were 149.48 billion yuan, a year-on-year decrease of 12.8 percent; those of bonds were about 1.53 trillion yuan, a year-on-year growth of 3.5 times. By the end of 2011, a combined total of 5.215 million accounts had been opened in Beijing's stock market, a year-on-year increase of 464,000 accounts.
In 2011, Beijing's insurance premium revenue totaled 82.09 billion yuan. Property insurance premium revenue was 23.26 billion yuan while life insurance premium revenue was 58.84 billion yuan. Insurance compensation totaled 23.28 billion yuan. Property insurance compensation was 11.9 billion yuan, while life insurance compensation came to 11.38 billion yuan.
