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Onshore assets of China’s banking sector up 11.9%

Updated: Apr 27,2015 8:50 PM     Xinhua

BEIJING — The onshore assets of Chinese banking institutions totaled 174.36 trillion yuan ($28.5 trillion) at the end of March, up 11.9 percent year-on-year, according to data from China Banking Regulatory Commission.

Onshore liabilities rose 11.3 percent to reach 161.44 trillion yuan, the data showed.

Notably, the combined onshore assets of China’s “big five” lenders, including the Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, China Construction Bank, and Bank of Communications, came in at 70.26 trillion yuan by the end of March, accounting for 40.3 percent of the total assets in the industry.

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