The added value of the finance industry in Tianhe district, Guangzhou increased by 21.93 billion yuan ($3.37 billion) during the 13th Five-Year Plan period (2016-20), and finance has become the leading industry in the district.

The data were released by Pan Sheng, deputy director of the Tianhe district commercial and financial bureau at a news briefing that was held on Aug 20.

The district's added value of its finance industry in 2020 was 107.73 billion yuan, accounting for 48.2 percent of the city's total. The financial sector's contribution to the district's tax revenue increased by 130 percent, while the number of licensed financial institutions rose by 57, making up over 70 percent of the city's total.

The number of enterprises in Tianhe that have achieved direct financing is also increasing, Pan said. Three enterprises in the district got listed in the last five years, accounting for 30 percent of the city's total newly listed enterprises. There are currently a total of 42 listed enterprises, making up 23.86 percent of the city's total.

In addition, the financial headquarters cluster in the Guangzhou International Financial City has begun to take shape, said Pan, adding that the starting area has introduced 12 financial institutions. They include the national or regional headquarters of China Guangfa Bank, the Agricultural Bank of China, and the Bank of Guangzhou.

An entire finance industrial chain has been basically established in Tianhe, said Pan.