A new report indicates that China’s banking sector holds at least USD$2 trillion yuan in overseas assets.
The “2018 Global Bank Internationalisation Report” (2018全球银行国际化报告) was released on 26 September by the Zhejiang University Internet Finance Research Institute (浙江大学互联网金融研究院), the Zhejiang University Financial Research Institute (浙江大学金融研究所) and the Renmin University International Monetary Institute (中国人民大学国际货币研究所).
According to the report the foreign assets of China’s main banks totalled over USD$2 trillion as of the end of 2017, an amount in excess of Italy’s GDP for that year.
China currently ranks sixth in the world in terms of banking sector overseas assets by country, and is the only emerging economy to hold a spot on the top ten list.
China also accounts for seven spots out of the world’s top ten emerging economy banks.