Source: China State Council Information Office
China’s financial institutions saw expanded balance sheets in the first quarter of this year, official data showed.
The country’s financial institutions saw their combined assets increase 9.5% year on year to 364.62 trillion yuan (about US$57.1 trillion) by the end of Q1, while their combined liabilities rose 9.6% 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% rise in total assets, while companies in the securities industry saw their combined assets jump 22.1% year on year by the end of Q1.
The country’s insurers reported combined assets of 24.26 trillion yuan, up 11.7% year on year, the central bank data showed.