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Sunday, January 24, 2021, 18:58
Chinese banking sector assets up 10.1% in 2020
By Xinhua
Sunday, January 24, 2021, 18:58 By Xinhua

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.

ALSO READ: China's banking sector disposed of US$467b soured assets in '20

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. 

READ MORE: China mulls revising regulation for foreign insurance firms


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