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Chinese banking sector’s assets up 9.8 pct

Abstract : The total assets in China's banking sector continued to expand in the first half of the year while the industry's non-performing ratio saw a slight increase as the economy faced headwinds.

BEIJING, July 13 (Xinhua) — The total assets in China’s banking sector continued to expand in the first half of the year while the industry’s non-performing ratio saw a slight increase as the economy faced headwinds.

By the end of June, the total assets of China’s banking industry reached 301.5 trillion yuan (about 43.1 trillion U.S. dollars), up 9.8 percent from a year earlier, according to the China Banking and Insurance Regulatory Commission.

Lenders’ outstanding non-performing loans came in at 3.6 trillion yuan, with the bad loan ratio at 2.1 percent, up 0.08 percentage points from the ratio seen at the start of the year, the data showed.

The bad loan ratio is expected to continue to climb as the impact of the economic headwinds is yet to filter through to the sector, according to the commission.

The data also showed that the total assets of the insurance industry stood at 21.7 trillion yuan by the end of June, up 5.7 percent from the beginning of the year.

The premium income of the insurance sector went up 6.4 percent year on year to 2.7 trillion yuan in the first half of the year. Enditem

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Xinhua Silk Road (en.imsilkroad.com) is the Belt and Road Initiative (BRI) portal. China’s silk road economic belt and the 21st century maritime silk road website, include BRI Policy, BRI Trade, BRI Investment, Belt and Road weekly, Know Belt and Road, and the integrated information services for the Belt and Road Initiative (BRI).

Source: Chinese banking sector’s assets up 9.8 pct

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