Tongzhou district, Nantong, East China's Jiangsu province, ranked second among 69 counties and districts in the province due to its favorable financial environment, according to an official report issued recently.

Over the past few years, the district has focused on preventing financial risks and promoting high-quality development in financial services. At the beginning of this year, it put forward new financial policies that give priority to the real economy and product innovation.

A supporting mechanism has also been established to provide private enterprises with help raising capital. Financial institutions have also been introduced to help solve financing problems at local small and micro companies.

Financial institutions and banks are encouraged to offer innovative loan services, and several related activities have been hosted by the district government. To date, three banks have cooperated with 16 villages, and enterprises in these villages have received over 1.1 billion yuan ($156.93 million) in bank loans.

In the first three quarters of this year, the value of loans in Tongzhou district increased by 1.3 billion yuan , more any other district or county in Nantong.

The district has also improved the amount of awards it plans to offer listed companies, held lectures, and organized training sessions in order to drive the development of enterprises. A total of nine enterprises in Tongzhou have now been listed either in China or abroad.

To combat illegal financial activity, the district has organized more than 50 activities on rational investment, which have received over 3,000 participants. Specialized working groups have also been established to investigate illegal fundraising.