Core Viewpoint - The financial system in Xinjiang has significantly evolved over the past 70 years, particularly in supporting high-quality economic and social development, with a focus on poverty alleviation and rural revitalization [1][2]. Financial Support for Poverty Alleviation and Rural Revitalization - During the poverty alleviation campaign, a command center was established to integrate resources from over 800 financial institutions, focusing on industrial poverty alleviation and innovative financing models [1]. - As of June 2023, the agricultural loan balance in Xinjiang reached 1.28 trillion yuan, accounting for over one-third of total loans [2]. Financial Initiatives in Southern Xinjiang - Southern Xinjiang is identified as a strategic area for development, with financial policies aimed at enhancing economic growth and social stability [2]. - By June 2023, the loan balance for agricultural and small enterprises in Southern Xinjiang reached 19 billion yuan, with a year-on-year growth of 14.8%, surpassing the average growth rate of the region [2]. Support for Modern Industry and Green Finance - Financial institutions have developed specialized loan products to support local agricultural industries, contributing to rural income and revitalization [3]. - Xinjiang has established 61 green finance institutions, with green loan balances reaching 633.77 billion yuan, accounting for 30% of new loans this year [5][6]. Cross-Border Trade and Investment Facilitation - The establishment of the Xinjiang Free Trade Zone aims to enhance cross-border trade financing and improve the investment environment, with a loan balance of 133.49 billion yuan as of June 2023 [4]. - The region has implemented policies to facilitate trade and investment, significantly increasing the use of the renminbi in cross-border transactions [4]. Future Financial Strategies - The focus will be on enhancing financial services to support the real economy, with an emphasis on maintaining stable credit growth and implementing effective monetary policies [7]. - The strategy includes expanding the use of renminbi in cross-border transactions and promoting financial innovations that can be replicated and scaled [7].

Core Viewpoint - The financial system in Xinjiang has significantly evolved over the past 70 years, particularly in supporting high-quality economic and social development through improved financial services and products [1] Group 1: Financial Support for Poverty Alleviation and Rural Development - During the poverty alleviation campaign, a command center was established to integrate resources from over 800 financial institutions, focusing on industrial poverty alleviation and increasing credit investment in key industries [2] - As of June 2023, the agricultural loan balance in Xinjiang reached 1.28 trillion yuan, accounting for over one-third of total loans [2] Group 2: Financial Initiatives in Southern Xinjiang - Southern Xinjiang is recognized as a strategic area for development, with financial support leading to a 14.8% year-on-year increase in loan balances, surpassing the average growth rate in the region [3] - Financial institutions have developed specialized loan products to support local agricultural industries, enhancing farmers' income and contributing to rural revitalization [4] Group 3: Financial Contributions to the Belt and Road Initiative - Xinjiang's unique geographical position facilitates cross-border trade, with 27 banks qualified for foreign exchange services, expanding the range of currencies to 20 [5] - Since the implementation of cross-border financing management, a total of 641 billion yuan has been achieved in cross-border financing [5] Group 4: Development of Free Trade Zone - The establishment of Xinjiang's Free Trade Zone marks a significant milestone, with a loan balance of 133.49 billion yuan as of June 2023, reflecting a 7% year-on-year growth [6] - Innovative financial services and products have been introduced within the Free Trade Zone to enhance trade and investment facilitation [6] Group 5: Green Finance Initiatives - Xinjiang has established 61 banking green specialized institutions and 10 non-banking green specialized institutions, with green loan balances reaching 633.77 billion yuan [7] - Innovative financial tools for carbon reduction and low-carbon transformation have been developed, including various types of loans linked to carbon emissions [8] Group 6: Future Financial Strategies - The financial sector aims to continue supporting the real economy, focusing on credit growth and enhancing the implementation of financial policies to ensure effective outcomes [9] - Plans include expanding the use of the renminbi in cross-border transactions and promoting financial innovations that can be replicated and promoted [9]