China’s financial institutions saw expanded balance sheets by the end of the third quarter (Q3) of 2022, official data showed.

The country’s financial institutions saw their combined assets increase 10.1 percent year on year to 413.46 trillion yuan (about 59.23 trillion U.S. dollars) by the end of Q3, while their combined liabilities rose 10.3 percent from a year earlier to 376.61 trillion yuan, data from the People’s Bank of China showed.

Banking institutions — accounting for the lion’s share of the financial industry — reported a 10.2-percent rise in total assets, while companies in the securities industry saw their combined assets jump 7.3 percent year on year.

The country’s insurers reported combined assets of 26.71 trillion yuan, up 9.8 percent year on year, central bank data showed.

Originally published by Xinhua


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