--- SEARCH ---
WEATHER
CHINA
INTERNATIONAL
BUSINESS
CULTURE
GOVERNMENT
SCI-TECH
ENVIRONMENT
SPORTS
LIFE
PEOPLE
TRAVEL
WEEKLY REVIEW
Film in China
War on Poverty
Learning Chinese
Learn to Cook Chinese Dishes
Exchange Rates
Hotel Service
China Calendar
Trade & Foreign Investment

Hot Links
China Development Gateway
Chinese Embassies

Chinese Banks Report Balanced Assets, Debt Growth

Banks in the Chinese mainland reported total assets worth of 31.49 trillion yuan (US$3.8 trillion) at the end of 2004, up 13.6 percent over 2003, said the China Banking Regulatory Commission (CBRC), the country's banking watchdog.

Meanwhile, they got into debt worth of 30.23 trillion yuan (US$3.66 trillion), up 13.4 percent over 2003, according to a CBRC report released in Beijing Wednesday.

State-owned banks had total assets worth of 16.92 trillion yuan (US$2.05 trillion), a year-on-year rise of 11.2 percent, and debts totaling 16.21 trillion yuan (US$1.96 trillion), up 11.1 percent over 2003, the report said.

Joint-stock banks' total assets increased by 22.2 percent to 4.7 trillion yuan (US$568.32 billion) and owed 4.54 trillion yuan (US$548.97 billion), a year-on-year rise of 22.2 percent.

Urban community banks also had their total assets rise by 16.3 percent to 1.71 trillion yuan (US$206.77 billion) while their debts up 16.3 percent to 1.65 trillion yuan (US$199.52 billion).

Four state-owned asset management companies took back 137 billion yuan (US$16.5 billion) by clearing non-performing assets worth of 675 billion yuan (US$81.3 billion) last year, the report said.

The Chinese government founded the four companies to clear bad assets left by the four state-owned commercial banks, the Construction Bank of China (CBC), the Industrial and Commercial Bank of China (ICBC), the Agricultural Bank of China (ABC) and the Bank of China (BOC), in 1999.

(Xinhua News Agency January 20, 2005)

New Stimulus for Banking Sector
Joint-stock Lender Receives Official Approval
Better Times for Rural Credit Co-ops
Bank of Communications' Deposits Exceed 1 Trillion Yuan
Everbright Bank Broadens Product Range
Deposit Insurance System Planned
Print This Page
|
Email This Page
About Us SiteMap Feedback
Copyright © China Internet Information Center. All Rights Reserved
E-mail: webmaster@china.org.cn Tel: 86-10-68326688