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Chinese Financial Institutions’ Total Assets Jump 9.7% in Q2

MT Newswires ·  09/15/2022 11:54

11:52 PM EDT, 09/14/2022 (MT Newswires) -- China's financial institutions registered a 9.7% jump in total assets in the second quarter to 407.42 trillion yuan ($58.48 trillion), Xinhua News Agency reported Wednesday, citing data from the People's Bank of China.

Their combined liabilities expanded 9.9% to 371.04 trillion yuan, according to the report.

The assets of the banking industry rose 9.4%, while that of the insurance sector edged up 11%, the report said.

China's big five commercial banks are Industrial and Commercial Bank of China (SHA:601398, HKG:1398), China Construction Bank (SHA:601939, HKG:0939), Agricultural Bank of China (SHA:601288, HKG:1288), Bank of China (SHA:601988, HKG:3988) and Bank of Communications (SHA:601328, HKG:3328).

China's top insurers include People's Insurance (SHA:601319, HKG:1339), China Reinsurance (HKG:1508), China Taiping Insurance Holdings (HKG:0966), China Pacific Insurance (SHA:601601, HKG:2601), Ping An Insurance (SHA:601318, HKG:2318) and Taikang Insurance Group.

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