Shanghai FTZ draws a slew of financial firms

A total of 31 financial institutions had been installed in the China (Shanghai) Pilot Free Trade Zone by the end of the first quarter, Shanghai's banking regulator said on Monday.

That included 20 foreign and 10 domestic banks. A financial leasing company also set up a branch in the zone, which was launched on Sept 29 to pioneer China's wide-ranging structural reforms.

The businesses' combined assets have reached 120.6 billion yuan ($19.3 billion). Combined loans have amounted to 65.4 billion yuan, while deposits stood at 92.5 billion yuan.