Economy

China financial institutions’ total assets up 8.4%

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Total assets of China’s financial institutions on Friday amounted to 308.96 trillion yuan ($ 43.61 trillion) at the end of June, data from the central bank showed.

According to a statement on the website of the People’s Bank of China, the data represents a year-on-year increase of 8.4 per cent.

Total assets of lenders, brokerages and insurers reached 281.58 trillion yuan, 7.88 trillion yuan, and 19.5 trillion yuan, respectively.

The statement said liabilities of financial institutions hit 281.66 trillion yuan at the end of the second quarter, rising 8.2 per cent from a year earlier.

Lenders, brokerages and insurers saw their liabilities reach 258.8 trillion yuan, 5.66 trillion yuan and 17.21 trillion yuan, up 7.9 per cent, 13.4 per cent and 9.9 per cent, respectively.

YI/AIB

Edited by Yahaya Isah/Abdulfatah Babatunde

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