Assets of China’s banking sector grew 7.1%
Beijing. Jul 31. Silkroadnews - According to data published by the China Banking and Insurance Regulatory Commission, the assets of Chinese banks at the end of June amounted to 253.4 trillion yuan ($37 trillion), Sina.com reports.
According to the regulator, the volume of assets increased 7.1% on an annualized basis.
The combined onshore assets of the Chinese “big five” banks - the Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, China Construction Bank, and Bank of Communications - totaled 90.6 trillion yuan, i.е. 35.7% of the total assets in the industry.
The assets of more than 130 city commercial banks of China, which were founded in 1995 on the basis of the reform of the share capital of urban credit cooperatives, amounted to 32.3 trillion yuan in total assets, representing 12.9% of the total amount in the industry.