The total assets of financial institutions in China saw YoY growth of over 9% as of the end of the first quarter to exceed 364 trillion yuan.
Initial data from the Chinese government indicates that the total assets of Chinese financial sector institutions stood at 364.62 trillion yuan (approx. USD$56.93 trillion) at the end of the first quarter, for YoY growth of 9.5%.
Total assets of Chinese banking sector institutions were 329.58 trillion yuan, for YoY growth of 9%, while total assets of securities sector institutions stood at 10.78 trillion yuan, for a YoY rise of 22.1%.
The total assets of insurance sector institutions was 24.26 trillion yuan, for a YoY rise of 11.7%.
The total liabilities of Chinese financial sector institutions stood at 331.6 trillion yuan at the end of the first quarter, for a YoY rise of 9.6%.
Banking sector liabilities were 301.99 trillion yuan, for a YoY rise of 9.1%, while securities sector liabilities were 8.08 trillion yuan, for a YoY rise of 25.1%.
Insurance sector liabilities were 21.53 trillion yuan, for a YoY rise of 12%.
