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Banking sector's assets up to 52.6 trln yuan in 2007
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The assets of China's banking sector rose to 52.6 trillion yuan (7.32 trillion U.S. dollars) in 2007 from 43.9 trillion yuan in 2006, the China Banking Regulatory Commission (CBRC) reported.

The state-owned Bank of China, China Construction Bank, the Industrial and Commercial Bank of China, the Agricultural Bank of China and Bank of Communications make up 53.2 percent of the total assets, according to CBRC.

Twelve joint-stock commercial banks, including China Everbright Bank, accounted for 13.8 percent, while city commercial banks occupied 6.4 percent. The remaining 26.6 percent were covered by other financial institutions.

CBRC figures showed China's banking sector had total liabilities worth 49.57 trillion yuan in 2007, up 18.8 percent from the previous year.

State-owned commercial banks owed 26.43 trillion yuan of the total debt, up 15.5 percent, and joint-stock commercial banks had 6.91 trillion yuan, a rise of 31.5 percent. The remaining 16.22 trillion yuan was owed by city commercial banks and other kinds of financial institutions.

(Xinhua News Agency February 15, 2008)

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