Total Assets of Chinese Financial Institutions Exceed $50 Trillion as of Q2 2020

The latest official data points to a double-digit YoY rise in the total assets of the Chinese financial sector.

Data released by the People’s Bank of China (PBOC) on 14 September indicates that as of the end of the second quarter of 2020 the total assets of China’s financial sector stood at 340.43 trillion yuan (approx. USD$50.16 trillion), for YoY growth of 10%.

The total assets of the Chinese banking sector were 309.41 trillion yuan, for a YoY rise of 9.7%, while the total assets of securities sector organisations were 9.04 trillion yuan, for a YoY rise of 14.8%.

The total assets of insurance sector organisations in China were 21.98 trillion yuan, for a YoY rise of 12.7%.

PBOC data further indicates that the total liabilities of financial sector organisations in China were 310.01 trillion yuan as of the second quarter for a YoY rise of 9.9%.

This included 283.93 trillion yuan in liabilities for banking sector organisations, for a 9.5% YoY rise, 6.66 trillion yuan in liabilities for securities sector organisations, for a 17.8% YoY rise, and 19.41 trillion yuan in liabilities for insurance sector organisations, for a YoY rise of 12.8%.

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