Banks and insurance institutions in Shanghaihave made great efforts and achievements in supporting the city's economic andsocial development over the past decade.

Over the past 10 years, both the assets andbank loans of Shanghai's banking industry have grown by over 140 percent.

In the insurance industry, meanwhile, theinsurance penetration has increased from 4.08 percent to 4.56 percent, whilethe insurance density has risen from 3,421 yuan (US$484) per person to 7,917yuan per person, data from the city's banking and insurance regulatory bureaushowed.

Banking and insurance industries have beentrying to better serve the real economy in the city.

Shanghai posted 1.23 trillion yuan ofmanufacturing loans under its jurisdiction at the end of August, with a 96percent increase in loan balance.

To promote the establishment of China'sintegrated circuit insurance community, the bureau has provided insurancecoverage of nearly 700 billion yuan for 12 key customers in the integratedcircuits industry.

It is developing inclusive finance as well,with a loan balance of over 800 billion yuan for inclusive small and microenterprises at the end of July, showing an average annual growth of over 30percent.

Also of note, facing the severe and complexsituation of pandemic prevention and control this year, the bureau guided about5,000 people from banks and insurance institutions to stay at their posts toensure basic financial services, while introducing a working mechanism of"bailout financing" to solve the problems of small and medium-sizedand individual entrepreneurs.