BEIJING — Chinese banking institutions held 265.1 trillion yuan ($39.4 trillion) in onshore assets by the end of January, official data showed.

The volume expanded 6.9 percent year-on-year, according to the China Banking and Insurance Regulatory Commission.

Their onshore liabilities rose 6.5 percent to 243.3 trillion yuan, said the regulator.

The combined onshore assets of commercial banks came in at 217.5 trillion yuan, up 8.2 percent, while their liabilities increased 7.8 percent to 200.3 trillion yuan.

City-based commercial banks recorded 35 trillion yuan in total onshore assets by the end of January, up 9.7 percent year-on-year. Rural financial institutions saw their assets expand 7.2 percent to 35.6 trillion yuan.