Tianjin released a three-year reform proposal on November 17, which includes an area for financial institutions.

According to the proposal, the city will develop new types of finance as well as reform traditional finance.

The city aims to keep financial added value’s growth above 11 percent, and take up more than 11 percent of the city’s regional production by the end of 2018.

In three years, the city’s general social financing will exceed 540 billion yuan ($84.7 billion), more than 25 percent of the total. Overall deposits and loans will reach 3.3 trillion yuan ($517.4 billion). By the end of 2018 there will be more than 75 registered financial institutions and 1700 corporations. The total volume of financial institutions in the city will exceed 5.8 trillion yuan ($909.4 billion), including 5.6 trillion yuan in the banking industry. Financial corporations and service institutions will have capital over 330 billion yuan ($51.7 billion).

In order to reach these goals, the city will promote financial reform and international investment, financing, and trade in the Tianjin Pilot Free Trade Zone. The overall scale of international transactions will exceed 1.7 trillion yuan ($266.6 billion).

Moreover, the city will develop new types of financial business such as financing and leasing and push forward the innovation in policy, mechanism, and business. The city hopes to become a leader in leasing capital scale and innovative capability. The city will also try hard to build a national leasing innovative area. The city hopes to achieve more than 700 billion yuan ($109.8 billion) of total leasing capital and 300 billion yuan ($47 billion) financing capital by the end of 2018.

The city will emphasize finance relating to policy, navigation, and green industry and improve major projects.

Corporate financial institutions will experience rapid growth in the next three years. The city will establish comprehensive financial groups integrating business such as banks, securities, insurance, trust, and leasing. The city aims to , and help at least three financial corporations get listed in the stock market by the end of 2018.

Tianjin will also develop direct financing and help more corporations list in the stock market. The city will regulate equity investment institutions and promote new financing tools. The total number of corporations listed in the “New Three Boards” will exceed 300.

The city will make efforts to develop production element market through optimizing and integrating production resources, promoting the in-depth combination of “Internet plus” technology and the market, and establishing production element market with national influence.

Furthermore, Beijing, Tianjin, and Hebei will integrate their finances. The city will explore integrated regional monitoring mechanisms, enhance financial infrastructure, promote the reasonable flow of financial resources, and push forward the growth of the integrated financial market in Beijing, Tianjin, and Hebei.

The city will also enhance the risk control to guarantee the safe and steady operation of the financial industry.