China banking sector’s assets up 7.1pc

Chinese banks held 253.4 trillion yuan (37 trillion U.S. dollars) in assets as of the end of June, according to data released by the China Banking and Insurance Regulatory Commission, reports Xinhua from Beijing.

The volume marked an increase of 7.1 per cent year on year, the regulator said.

By the end of last month, lenders’ liabilities rose 6.8 percent to reach 233.2 trillion yuan.

The combined onshore assets of China’s “big five” lenders — the Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, China Construction Bank, and Bank of Communications — came in at 90.6 trillion yuan, 35.7 per cent of the total assets in the industry.

China’s more than 130 city commercial banks, which were founded in 1995 through shareholding reform of urban credit cooperatives, recorded 32.3 trillion yuan in total assets, accounting for 12.9 percent of the industry’s total.

 

China banking sectors assets up 7.1pc

Chinese banks held 253.4 trillion yuan (37 trillion U.S. dollars) in assets as of the end of June, according to data released by the China Banking and Insurance Regulatory Commission, reports Xinhua from Beijing. The volume marked an increase of 7.1 per cent year on year, the regulator said. By the end of last month, lenders liabilities rose 6.8 percent to reach 233.2 trillion yuan. The combined onshore assets of Chinas big five lenders the Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, China Construction Bank, and Bank of Communications came in at 90.6 trillion yuan, 35.7 per cent of the total assets in the industry. Chinas more than 130 city commercial banks, which were founded in 1995 through shareholding reform of urban credit cooperatives, recorded 32.3 trillion yuan in total assets, accounting for 12.9 percent of the industrys total.