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China Banking Association releases 2018 banking services report

March 18, 2019


Abstract : China Banking Association (CBA), a non-profit industry service organization, unveiled last Friday a report on China’s banking industry services for last year, reported Xinhua-run Shanghai Securities News Saturday.

BEIJING, March 18 (Xinhua) – China Banking Association (CBA), a non-profit industry service organization, unveiled last Friday a report on China’s banking industry services for last year, reported the Xinhua-run Shanghai Securities News Saturday.

According to the report, the country’s banking sector embraced higher quality and efficiency in serving the real economy last year.

By the end of 2018, outstanding loans of China’s banking sector reached 140.6 trillion yuan, up 12.6 percent year on year and investment in bonds by banking institutions in China mounted up to 45.2 trillion yuan, up 14.1 percent over end 2017.

To better serve the real economy, coverage of village- and town-level business units of China’s banking institutions reached 96 percent by end 2018 and coverage of basic financial services in administrative villages around the country reached 97 percent.

Meanwhile, banking institutions’ outstanding loans to small and micro-businesses nationwide grew 8.9 percent year on year to 33.49 trillion yuan.

Besides, the report showed there were 32.68 trillion yuan of unexpired loans pumped into financing to agricultural sector, farmers and rural areas last year, up 5.58 percent year on year.  Enditem (Edited by Duan Jing, duanjing@xinhua.org)

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Keyword: banks loans

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