Among China's three largest economies, Shandong province is committed to building a modern market-oriented financial system that can match the development of its real economy within five years.

"Shandong's future needs financial support and the province will actively and steadily carry out reforms in the financial sectors," according to the government work report delivered by Governor Guo Shuqing at the annual session of the Shandong Provincial People's Congress in January.

As the former chairman of China Securities Regulatory Commission, Guo became the governor of the eastern province last June, where he continues his dedication to financial reforms and has launched a package of effective measures.