China's financial institutions' assets rise in 2022
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E-mail Xinhua, March 15, 2023
Photo shows the headquarters of the People's Bank of China in Beijing, capital of China. (Xinhua/Cai Yang)
China's financial institutions saw a steady expansion in assets by the end of 2022, official data showed Wednesday.
The country's financial institutions saw their combined assets increase 9.9 percent year on year to 419.64 trillion yuan (about 61.1 trillion U.S. dollars) by the end of last year, while their combined liabilities rose 10.3 percent from a year earlier to 382.33 trillion yuan, data from the People's Bank of China showed.
Banking institutions, accounting for the lion's share of the financial industry, reported a 10-percent rise in total assets, while companies in the securities industry saw their combined assets jump 6.6 percent year on year.
The country's insurers reported combined assets of 27.15 trillion yuan, up 9.1 percent year on year, central bank data showed.
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