(ATF) – Data released by the people’s Bank of China on Monday, showed that at the end of 2019, the total assets of China’s financial institutions were 318.69 trillion yuan (about US$ 45.53 trillion), an increase of 8.6% over the same period last year.
Among them, the total assets of banking institutions were 290 trillion yuan (about $41.43tn), up 8.1% over the same period last year.
Those of securities institutions were 8.12tn yuan, up 16.6% over the same period last year; and the total assets of insurance institutions were 20.56tn yuan, up 12.2% from the same period last year.
Insurance sector assets climbed to 20.56 trillion yuan, up 12.2%.
Total financial sector debt saw a year-on-year increase of 8.1% to 289.43tn yuan in 2019, while those in the banking sector went up 7.7% to 265.54tn yuan.