BEIJING, March 16 (Xinhua) -- The aggregate assets of financial institutions in China expanded 10.7 percent year on year to 353.19 trillion yuan by the end of last year, reported Xinhua-run Xinhua Finance citing data from Chinese central bank, the People's Bank of China (PBOC).
PBOC publicized Monday that total liabilities of financial institutions in the country mounted up to 321.17 trillion yuan in 2020, up 10.8 percent from a year earlier.
For banking institutions, their total assets reached 319.74 trillion yuan, up 10.1 percent year on year while their liabilities totaled 293.11 trillion yuan by the end of last year, up 10.2 percent from 2019.
Securities institutions saw their gross assets grow 25 percent year on year to 10.15 trillion yuan while their liabilities surged 29.3 percent from 2019 to 7.51 trillion yuan by the end of 2020.
Insurance companies in China possessed in total 23.3 trillion yuan of assets by the end of 2020, up 13.3 percent from the previous year while their liabilities rose 13.6 percent year on year to 20.55 trillion yuan.
By the end of 2020, owner's equity of financial institutions in China stood at 32.01 trillion yuan, up 9.2 percent year on year, with figures for banking institutions, securities institutions and insurance institutions at 26.63 trillion yuan, 2.63 trillion yuan and 2.75 trillion yuan, up 8.6 percent, 14.2 percent and 11.0 percent from a year ago respectively.
According to PBOC's announcement posted on its website, all of the above data came from PBOC, China Banking and Insurance Regulatory Commission (CBIRC) and China Securities Regulatory Commission as well and the total assets, liabilities and owner's equity statistics of financial institutions are aggregates of corresponding statistics of banking, securities and insurance institutions.
Since 2020, CBIRC included financial asset investment companies into banking institutions for related data calculation. (Edited by Duan Jing with Xinhua Silk Road, duanjing@xinhua.org)
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