Financial institutions' assets increase 8.6%, says PBOC 

But surge among banks, securities firms is matched by rise in debt 

by Xu Jiangshan Wang Xiaohan
Financial institutions assets increase 
Bank assets were at 290 trillion yuan last year.

(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.