Date
17 October 2017

Financial firms’ end-Oct assets at 4.14 trln yuan, Xinhua says

Total assets of China’s 174 key financial companies amounted to 4.14 trillion yuan (US$679.507 billion) as of the end of October, a figure that is eight times the level recorded in 2003, Xinhua news agency reported Thursday, citing Li Jianhua, director of the Non-bank Financial Institutions Supervision Department at the China Banking Regulatory Commission (CBRC). As of the end of October, owners’ equity in financial companies amounted to 350 billion yuan, and their capital strength was nine times that seen in 2003, the report sasid. The average capital adequacy ratio for the firms stood at 28 percent and their non-performing asset ratio was at 0.11 percent, with 141 firms reporting no non-performing assets, the report said.

– Contact HKEJ at [email protected]

EL/AC/RC

 

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