North China's Shanxi province has optimized its financial ecosystem through institutional norms and comprehensive measures, contributing financial strength to its economic and social development.

This year, the province has strategically partnered with the headquarters of seven financial institutions, securing support totaling 2.95 trillion yuan ($404.92 billion). Specific transformation support directories for coal, non-ferrous metals, coal-fired power, and steel industries have been established to facilitate the transformation and upgrading of traditional industries.

To advance the construction of the "Shanxi Innovation Valley" platform, the province has introduced policies supporting science and technology financing, established a provincial-level task force to support the funding of technology enterprises, and built a multi-level integrated science and technology financial service system.

Among the 37 key reserve companies listed in the province in 2024, 84 percent are "specialized, refined, and innovative" enterprises. Similarly, of the 11 companies in the province receiving guidance or having submitted stock issuance applications, 80 percent are "specialized, refined, and innovative" enterprises.

In conjunction with the central financial regulatory authorities stationed in Shanxi, the provincial and local financial regulatory authorities have established collaborative mechanisms among various financial institutions such as banks, insurance companies, and securities firms and introduced a series of policy measures.

Shanxi persistently prioritizes preventing and controlling financial risks by driving reforms in local small and medium-sized financial institutions and regulating and rectifying local financial organizations.