Chinese banks held assets worth 254.3 trillion yuan (approx. USD$37 trillion) as of the end of July according to figures released by the China Banking and Insurance Regulatory Commission on Monday.
The amount marks a year-on-year rise of 7.5%, as compared to an increase in Chinese banking sector liabilities of 7.1% to hit 233.8 trillion yuan.
China’s big five banks – comprised of the Agricultural Bank of China, Bank of China, Bank of Communications, China Construction Bank and the Industrial and Commercial Bank of China – accounted for 35.5% of the sector’s total assets, at 90.4 trillion yuan.
The more than 130 municipal commercial banks around China accounted for 12.8% of sector wide assets, or 32.5 trillion yuan.