PBOC official stresses financial support for Beijing-Tianjin-Hebei

Pan Gongsheng, central bank deputy governor [Photo/Xinhua]

Financial institutions should find new ways to provide medium- and long-term financing for the region, PBOC deputy governor Pan Gongsheng said at a conference in Tianjin Friday.

They should increase financial support to important areas, including infrastructure, environmental protection, industrial upgrading, innovation and poverty relief, Pan added.

"The financial sector should take the strategy of Jing-Jin-Ji coordinated development as an opportunity to advance its own development," he said.

In 2015, central authorities approved a guideline for integrated development of the Jing-Jin-Ji region, with a focus on transferring non-capital functions from Beijing to neighboring areas.

The PBOC statement also said that the decision to establish the Xiongan New Area in Hebei Province, an important move to advance Jing-Jin-Ji development, was also studied at the conference.