Quanzhou, Fujian province, will carry out a series of financial reforms to restructure and boost the economy.

According to the provincial government, Quanzhou will expand the scale of bond financing and launch a registration center for private lending, which aims to help solve financial problems for small and medium-sized enterprises as well as micro enterprises.

The provincial government also aims to introduce two foreign-invested banks and a joint-equity bank and add 230 more banking points of service and 840 more ATMs by the end of this year.

The move follows the steps of Wenzhou, Zhejiang province, and the Pearl River Delta region in Guangdong province, which are also undergoing financial reforms.