Ping An Bank Co set its 44th branch in Taiyuan, Shanxi province on May 8, as the bank's second provincial branch this year.

Headquartered in Shenzhen, Ping An Bank, is China's first national joint-stock commercial bank. In the next three years, it plans to invest more than 100 billion yuan ($16.11 billion) to support Shanxi's economic restructuring through various financial services.

To date, Ping An Bank has put more than 30 billion yuan into Shanxi, mostly used for road construction, coal-based energy and industrial bases. It is cooperating with several state-owned companies such as Taiyuan Iron & Steel (Group) Co.

"In 2015, Ping An Bank will assist Shanxi's energy restructuring and play an active role in its livelihood industries. It will support its major projects, including urbanization, urban reconstruction, waste water treatment and emission reduction, and prop up the development of some emerging industries such as culture and education, health care, tourism and e-commerce," said Han Jianyuan, head of Ping An Bank's Taiyuan Branch.