CHINA'S FINANCIAL INSTITUTIONS SEE 9.9% GROWTH IN ASSETS

2024-03-21

 

The assets of China's financial institutions rose to 461.09 trillion yuan (US$64.97 trillion) at the end of 2023, a 9.9% increase compared to the previous year, according to the central bank.

 

Of the total, banking sector assets reached 417.29 trillion yuan, a 10% increase; securities firms' assets increased by 5.6% to 13.84 trillion yuan, and insurance sector assets reached 29.96 trillion yuan, a 10.4% increase, reported the People's Bank of China in a statement.

 

Meanwhile, the liabilities of financial institutions stood at 420.78 trillion yuan, a yearly growth of 10.1%. Of this total, banking institutions' liabilities accounted for 383.12 trillion yuan, a 10.1% increase; securities firms' liabilities were 10.43 trillion yuan, a 5.5% yearly increase, and insurance institutions' liabilities were 27.22 trillion yuan, an 11.4% increase, according to data from the authority.

 

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