On March 11, NAFMII signed a tripartite memorandum of cooperation with the People’s Government of Shanxi Province and PBC Taiyuan Central Sub-branch in Taiyuan. Cao Zijuan, NAFMII Deputy Secretary-General, Guo Baomin, Director of Financial Affairs Office of Shanxi Government, and Zhao Zhihua, Head of PBC Taiyuan Central Sub-branch, signed and exchanged "Memorandum of Cooperation on Boosting Shanxi Economic Development through the Interbank Market". Wang Yixin, Deputy Governor of the People’s Government of Shanxi Province, attended the signing ceremony.

NAFMII signs a tripartite memorandum of cooperation with the People’s Government of Shanxi Province and PBC Taiyuan Central Sub-branch

Shanxi, a typical province rich in natural resources, serves as China's important supply base for energy and raw materials. NAFMII, by upholding the principles of "self-regulation, innovation, service", received supports by all market members, and has maintained close collaboration with the Shanxi Government and PBC Taiyuan Central Sub-branch over the past few years to enhance the timeliness and effectiveness of the interbank market in serving the real economy of Shanxi province. By the end of February 2013, 37 enterprises from Shanxi province had issued 150 different kinds of debt financing instruments, cumulatively raising RMB199.3 billion, with an outstanding balance of RMB133.1 billion. In 2012, RMB66.1 billion worth of instruments were issued, doubling the amount of 2011. Over the last three years, coal enterprises in Shanxi province issued RMB 85.52 billion worth of debt financing instruments in the interbank market, providing a sound financing environment to promote integration of coal resources, M&A and restructuring of coal and mining enterprises, as well as transformation of resource-based model of economic development in Shanxi province.

Meanwhile, to further strengthen publicity of relevant policies for non-financial enterprises in Shanxi province to participate in the interbank market and help businesses to understand market development policies and market management rules, NAFMII, together with PBC Taiyuan Central Sub-branch and Financial Affairs Office of the People's Government of Shanxi, conducted training session on debt financing in the interbank market in Taiyuan. Participants exchanged views and discussed issues such as the selection of corporate finance mode, direct debt financing market development in China and how to carry out direct debt financing with issuers and financial institutions in Shanxi province.

The signing of the Memorandum of Cooperation marks a new page for the cooperation between NAFMII and Shanxi government and PBC Taiyuan Central Sub-branch. The official launch of the three-party institutionalized communication and cooperation platform will lay a solid foundation for wider and deeper cooperation among the three parties.