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China’s financial institutions post higher total assets

Abstract : The total assets of Chinese financial institutions stood at 353.19 trillion yuan (about 54.26 trillion U.S. dollars) at the end of 2020, up 10.7 percent year on year, central bank data showed.

BEIJING, March 20 (Xinhua) — The total assets of Chinese financial institutions stood at 353.19 trillion yuan (about 54.26 trillion U.S. dollars) at the end of 2020, up 10.7 percent year on year, central bank data showed.

In breakdown, assets of banking institutions totaled 319.74 trillion yuan at the end of last year, rising 10.1 percent year on year, according to the People’s Bank of China.

The total assets of securities institutions jumped 25 percent year on year to 10.15 trillion yuan while those of insurance institutions amounted to 23.3 trillion yuan, a yearly increase of 13.3 percent.

At the end of 2020, the total liabilities of China’s financial institutions came in at 321.17 trillion yuan, up 10.8 percent from a year earlier. Enditem

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Source: China’s financial institutions post higher total assets

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