On June 8, 2012, NAFMII signed a trilateral memorandum of understanding on cooperation with the People’s Government of Henan Province and PBOC Zhengzhou Central Sub-branch in Zhengzhou. Zhao Jiancai, Deputy Governor of Henan Province, attended the ceremony and delivered a speech.

NAFMII signs MOU with Henan Government and PBOC Zhengzhou Central Sub-branch

This year is an important year for bridging the past and the future in the implementation of the Twelfth Five-year Plan. NAFMII, by uniting all the market members, will actively implement the "Five Adheres” requirements for financial work in the new period, establish a routine communication platform with the People’s Government of Henan Province and relevant financial regulators by taking advantage of the signing of the MOU as an opportunity, and take the three-party cooperation to a new stage through innovation of working mechanisms.

Shi Wenchao, Secretary-General of NAFMII, attends the ceremony and delivers a speech

Henan Province is an important economic growth pole in Central China, and a core zone that will drive the rise of Central China. Since the foundation, NAFMII, with support from the members and with the aim of “self-regulation, innovation, service”, has maintained close cooperation with the People’s Government of Henan Province and PBOC Zhengzhou Central Sub-branch to enhance the timeliness and effectiveness of the interbank market in serving the real economy. By the end of May, 2012, 39 enterprises from Henan Province had issued 79 debt financing instruments of various kinds, cumulatively raising RMB55.27 billion. From the end of 2009 to the end of 2011, the balance of the debt financing instruments held by Henan Province jumped from RMB7.7 billion to RMB30.8 billion, achieving leaping development of redoubling within two years. From 2010 to 2011, the amount of the debt financing instruments issued by Henan Province in the year jumped 163% from RMB9.5 billion to RMB25 billion. In particular, 8 agriculture-related enterprises issued RMB2.7 billion worth of debt financing instruments, which has played an active role in supporting the development of “agriculture, rural areas and farmers” in the province and building the province into a national grain production and agricultural product base.