BUSINESS China's financial institutions report growing assets in Q1

BUSINESS

China's financial institutions report growing assets in Q1

Xinhua

18:42, June 10, 2019

BEIJING, June 10 (Xinhua) - Chinese financial institutions held 302.71 trillion yuan (about 43.8 trillion US dollars) in total assets by the end of the first quarter in 2019, official data showed.

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File photo: VCG

The volume expanded 8 percent year on year, according to the People's Bank of China (PBOC).

In breakdown, the combined assets of banking institutions came in at 275.82 trillion yuan, up 7.7 percent from the same period last year.

Securities institutions recorded 7.78 trillion yuan in total assets by the end of Q1, up 9.6 percent year on year. Insurance institutions saw their assets expand 10.9 percent to 19.11 trillion yuan.

Liabilities of China's financial institutions rose 7.6 percent year on year to 275.85 trillion yuan by the end of Q1, PBOC data showed.  

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