Data from the China Banking and Insurance Regulatory Commission (CBIRC) points to a sizeable YoY rise in the assets and liabilities of the country’s banks last month.
As of the end of March the onshore assets of banking sector financial institutions in China, including commercial banks, policy banks and rural credit cooperatives, saw a YoY rise of 7.7% to reach 268.76 trillion yuan (approximately USD$39.93 trillion).
CBIRC data further indicates that the total liabilities of banking sector financial institutions saw a 7.3% YoY increase to reach 246.51 trillion yuan in March.
Growth in total assets and liabilities of Chinese banks saw an acceleration in March compared to February.
The total assets of commercial banks accounted for 82.1% of all assets in the Chinese banking sector as of the end of March, rising by 8.6% compared to the same period last year.
Total liabilities of commercial banks saw a YoY rise of 8.3% in March.