China’s Banking assets top $23tr by June

Total assets in China’s banking industry hit 144.2 trillion yuan (23.26 trillion U.S. dollars) by the end of June, up 13.78 % from one year earlier, the China Banking Regulatory Commission said on Wednesday. The growth rate was 3.25 %age points lower than that at the end of March this year, the commission said, adding that the gross liabilities of Chinese banks rose 13.46 % year on year through the same period. It said the non-performing loans in Chinese commercial banks reached 539.5 billion yuan at the end of June, climbing 13 billion yuan from that at the end of March. The non-performing loans ratio in the country’s banking sector stood at 0.96 % at the end of June, unchanged from three months earlier.