Beijing's financial sector continued to be the leading service industry in the city as it recorded an added value of 340.86 billion yuan (US$51.62 billion) in the first three quarters, contributing 19.5 percent to the city's economic growth, according to the Beijing Municipal Bureau of Financial Work.

The sector accounted for 17.4 percent of the regional GDP, at a growth rate of 7.4 percent year-on-year, which was on par with that of the first half of this year.

More lending has gone to high-end, precision and state-of-the-art industries, fueling the development of science and technology innovation and cultural innovation in the city. 

By the end of September, the total outstanding loans issued by Chinese banks for hi-tech industries was 337.94 billion yuan, up by 18.1 percent year-on-year; the total outstanding loans issued by Chinese banks for cultural innovation industries was 142.95 billion yuan, up by 13.4 percent year-on-year. 

In the first three quarters, Beijing-based public companies raised a total of 176.04 billion yuan through IPOs, private placement, share placement, corporate bond sales, and convertible bond issue. Twenty-one Beijing-based companies were listed on the A-share market, bringing the total number to 303, making up 8.95 percent of the national total and ranking fourth in the nation. One hundred and forty-six Beijing-based companies debuted on the new third board, accounting for 10.1 percent of the newly listed companies over the period. In the first nine months of this year, Beijing-based companies raised a total of 21.92 billion yuan through the new third board, ranking first in the country.

Beijing's private equity market takes the lead in the nation. By the end of September, Beijing had 2,452 private equity management institutions that have registered with the China Securities Regulatory Commission and managed a total of 1.51 trillion yuan in capital. 

Private equity has provided capital to the real economy in Beijing, with more than 70 percent of private equity channeled into strategic emerging industries. 

In the clean-up campaign against cryptocurrency, Beijing has closed up 20 of 23 cryptocurrency trading platforms, fulfilling the city's target to shut down 90 percent of the cryptocurrency trading and issuing platforms. 

In the crackdown on illegal money raising, the city filed 154 cases in the first three quarters, up by 13.23 percent year-on-year; the cases involved a total of 2.4 billion yuan, down by 63.45 percent year-on-year.

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