2009 was a challenging year for the financial industry of Hebei province amid the turmoil of the global financial crisis, yet also a fruitful year, thanks to government support.

The Hebei Provincial Finance Office

On Dec 28, China's largest bank, the Industrial and Commercial Bank of China (ICBC) began construction of a national service center in Shijiazhuang, the capital of the Hebei province. The bank's credit card call center also began operations on the same day in the city. The center is expected to create about 5,000 local jobs. At least seven provinces were competing for the service center, but Hebei province won because of the provincial government’s persistent efforts. Officials with the Hebei Provincial Finance Office spared no efforts and impressed ICBC. The province also welcomed its first foreign-funded bank in 2009. The Hong Kong-based Bank of Eastern Asia opened a branch in Shijiazhuang on Dec 29.

The Bank of Tianjin, Bohai Bank, Shanghai Pudong Development Bank and Industrial Bank also began operations in Hebei province. China Merchants Bank (CMB), the country's sixth-largest lender, and the Bank of Beijing are preparing to establish branches in the province.

The province's city commercial banks expanded their business beyond the province. Shijiazhuang Commercial Bank changed it name to Bank of Hebei on Dec 16 and opened branches in Tangshan, Handan and Tianjin municipality.