Forty-nine banking firms in Shenzhen, in south China's Guangdong Province, saw their total pretax profits surged 76 percent to 15 billion yuan (1.92 billion U.S. dollars) last year.

Loans to hi-tech, logistics and cultural sectors soared in 2006, greatly boosting economic development in Shenzhen. The medium and long-term loans expand at a fast pace with much on the real estate sector, posing a potential threat.

By the end of 2006, the 49 banking firms in Shenzhen had 1.45 trillion yuan in total assets, up 20 percent year on year. Their outstanding saving deposits reached 1.06 trillion yuan and the outstanding loans came to 839.4 billion yuan.