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Sunday, June 13, 2021, 14:20
China's financial institutions' assets up 9.5% in Q1
By Xinhua
Sunday, June 13, 2021, 14:20 By Xinhua

This undated file photo shows a worker counting Chinese currency renminbi (RMB) at a bank in Linyi, East China's Shandong province. (PHOTO / XINHUA)

BEIJING - China's financial institutions saw expanded balance sheets in the first quarter of this year, official data showed.

ALSO READ: China imposed US$354m in fines on financial institutions in 2020

The combined liabilities of China's financial institutions rose 9.6 percent from a year earlier to 331.6 trillion yuan, data from the People's Bank of China showed

The country's financial institutions saw their combined assets increase 9.5 percent year on year to 364.62 trillion yuan (US$57.1 trillion) by the end of Q1, while their combined liabilities rose 9.6 percent from a year earlier to 331.6 trillion yuan, data from the People's Bank of China showed.

Banking institutions, accounting for the lion's share of the financial industry, reported a 9 percent rise in total assets, while companies in the securities industry saw their combined assets jump 22.1 percent year on year by the end of Q1.

READ MORE: PBOC: Reserve ratio for financial institutions drops to 9.4%

The country's insurers reported combined assets of 24.26 trillion yuan, up 11.7 percent year on year, the central bank data showed.


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