China's financial institutions' assets up 8.1% in 2021
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E-mail Xinhua, March 20, 2022
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China's financial institutions saw expanded balance sheets in 2021, according to official data.
The country's financial institutions saw their combined assets increase 8.1% year on year to 381.95 trillion yuan (about US$60.22 trillion) by the end of 2021, while their combined liabilities rose 7.9% from a year earlier to 346.58 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 7.8% rise in total assets, while companies in the securities industry saw their combined assets jump 21.2% year on year.
The country's insurers reported combined assets of 24.89 trillion yuan, up 6.8% year on year, the central bank data showed.
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