China’s Financial Institution Assets Exceed 407 Trillion Yuan: PBOC

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The total assets of financial institutions in China is in excess of 407 trillion yuan (approx. US$58.5 trillion), according to the latest data from the People’s Bank of China (PBOC).

According to PBOC’s preliminary statistics the total assets of Chinese financial institutions stood at 407.42 trillion yuan as of the end of the second quarter, for year-on-year (YoY) growth of 9.7%.

This included banking sector assets of 367.68 trillion yuan, for YoY growth of 9.4%; securities sector assets of 13.1 trillion yuan, for YoY growth of 16.3%, and insurance sector assets of 26.64 trillion yuan, for YoY growth of 11.0%.

Total liabilities of Chinese financial institutions were 371.04 trillion yuan, for YoY growth of 9.9%.

This included banking sector liabilities of 337.3 trillion yuan, for YoY growth of 9.5%; securities sector liabilities of 10.02 trillion yuan, for YoY growth of 17.6%, and insurance sector liabilities of 23.73 trillion yuan, for YoY growth of 12.2%.

Total equity in Chinese financial institutions was 36.38 trillion yuan, for YoY growth of 8.2%.