The latest offical data from the People’s Bank of China (PBOC) points to to robust growth in the assets of the Chinese banking sector following the outbreak of the COVID-19 pandemic.
As of the end of the third quarter of 2020 the total assets of China’s financial institutions stood at 347.32 trillion yuan (approx. USD$53.09 trillion) for YoY growth of 11.2%.
The total assets of banking sector financial institutions stood at 315.18 trillion yuan for YoY growth of 10.5%, while total assets of securities sector institutions was 9.7 trillion yuan, for YoY growth of 23.9%.
Total assets of insurance sector institutions were 22.44 trillion yuan, for YoY growth of 12.4%.
As of the end of the third quarter the total liabilities of Chinese financial institutions stood at 316.12 trillion yuan, for YoY growth of 11.3%.
Liabilities of banking sector institutions stood at 289.11 trillion yuan, for YoY growth of 10.7%, while for securities sector institutions the figure was 7.15 trillion yuan, for YoY growth of 28.4%.
Insurance sector institutions had liabilities of 19.87 trillion yuan, for YoY growth of 13%.
