Ping An Bank plans to invest 100 billion yuan ($16.14 billion) in the next three years in the northwestern province of Shaanxi to support the development of infrastructure, small- and medium-sized enterprises and the hi-tech sector.

The gross value of Ping An Bank’s total asset topped 1.6 trillion yuan by the end of 2012. Its three major strategic businesses are trade finance, small and micro loans, and credit cards.

Ping An Bank opened its 34th branch bank on Wednesday in Xi’an, capital city of Shaanxi. This is Xi’an tenth joint-stock commercial bank.