8.5% growth in total assets of Chinese financial institutions

Beijing, 21 June (BNA): Official data released by the People’s Bank of China, the central bank, showed that the total assets of Chinese financial institutions rose to 476.49 trillion yuan (approximately 66.93 trillion USD) by the end of March, marking an 8.5% year-on-year increase.


According to Xinhua News Agency, the banking sector’s assets reached 429.58 trillion yuan, an 8.1% year-on-year increase. The assets of securities institutions grew by 2.5% year-on-year to 14.05 trillion yuan.


The insurance sector’s assets increased by 15.8% year-on-year to 32.86 trillion yuan, while the total liabilities of financial institutions reached 434.97 trillion yuan, an 8.5% year-on-year increase, according to the data.


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