Official data from the Chinese central bank points to robust growth in the total assets of China’s financial sector institutions.
Figures released by the People’s Bank of China (PBOC) on 12 December indicate that the total assets of Chinese financial sector institutions was 312.46 trillion yuan (approx. USD$44.8 trillion) as of the end of the third quarter, for YoY growth of 8.1%.
Total assets of Chinese banking sector institutions were 284.67 trillion yuan, for YoY growth of 7.7%, while total assets of securities sector institutions were 7.83 trillion yuan, for YoY growth of 13.6%.
Total assets of insurance sector institutions were 19.96 trillion yuan, for YoY growth of 11.7%.