China banking industry assets surge 21.3%by end of March

Write: Lamont [2011-05-20]

China banking industry assets surge 21.3%by end of March

From: China Daily

The assets held by China s banking industry totaled 84.3 trillion yuan ($12.4 trillion) by the end of March, up 21.3 percent year-on-year, the country s banking regulator said Tuesday on its website.

In a breakdown, assets of the State-owned merchant banks, the joint stock commercial banks and the city commercial banks totaled 42.9 trillion yuan, 12.6 trillion yuan and 6 trillion yuan, up 21.3 percent, 17.5 percent and 28.5 percent respectively, said the China Banking Regulatory Commission (CBRC).

Meanwhile, the industry s total liabilities had soared 21.4 percent from a year earlier to 79.5 trillion by March s closing, according to the statement.