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Chinese Banks Post 18.3% Increase in Assets
Source: Xinhuanet
Source Date: Thursday, July 22, 2010
Focus: Electronic and Mobile Government, ICT for MDGs
Country: China
Created: Jul 25, 2010

Total domestic assets in foreign currencies and yuan at Chinese financial institutions had risen 18.3 percent year on year to 87.2 trillion yuan (12.9 trillion U.S. dollars) by the end of June, China's banking regulator said Thursday.

Combined liabilities had risen 18 percent from one year ago to 82.3 trillion yuan by the end of June, the China Banking Regulatory Commission (CBRC) said in a statement on its website.

Large-scale commercial banks' assets had grown 13.2 percent year on year to 43.6 trillion yuan by the end of June while assets of joint-stock commercial banks had risen to 13.5 trillion yuan, up 24.6 percent from a year earlier, the statement said.

Liabilities at large-scale commercial banks rose to 41.2 trillion yuan, up 13 percent year on year, while those of joint-stock commercial banks increased 23.6 percent year on year to 12.8 trillion yuan.

The bad loan ratio of major commercial banks - both large-scale commercial banks and joint-stock commercial banks - fell to 1.30 percent, down 0.29 percentage points from the beginning of 2010, the CBRC said in a separate statement on its website Thursday.

CBRC Chairman Liu Mingkang Tuesday warned of possible financial risks in local government financing vehicles, the property sector and in sectors with excessive production capacity.

He asked Chinese banks to further strengthen loan risk management and to carry out stress tests on loans to the property industry and other related sectors.

"Given the complicated economic conditions in China, China's banking industry still faces challenges to its stable development," he noted.
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