In this April 8, 2018 photo, a pedestrian walks past the headquarters of China Banking and Insurance Regulatory Commission (CBIRC) in Beijing, China. (PHOTO / IC)
BEIJING - The total assets of China's banking sector saw steady expansion in 2020, data from the country's top banking and insurance regulator showed.
By the end of last year, the total assets of China's banking institutions had climbed 10.1 percent year on year to 319.7 trillion yuan (about US$49.5 trillion), according to the China Banking and Insurance Regulatory Commission.
Preliminary statistics showed that Chinese commercial banks raked in 2 trillion yuan in net profits last year
Preliminary statistics showed that Chinese commercial banks raked in 2 trillion yuan in net profits last year, down 1.8 percent from a year earlier.
Their non-performing loans ratio stood at 1.92 percent at the end of 2020, 0.06 percentage points lower from the beginning of the year.
Besides, the total assets of the insurance industry stood at 23.3 trillion yuan, up 13.3 percent year on year, the data showed.
Copyright 1995 - 2021. All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily. Without written authorization from China Daily, such content shall not be republished or used in any form.
HONG KONG NEWS