China reports increase in banking assets

China's banking watchdog posted Friday a 16.2 percent increase year-on-year in the country's combined banking assets by the end of June.

The total assets of state banks, joint-stock commercial banks, city commercial banks and other financial institutions rose to 34.56 trillion yuan (4.26 trillion US dollars), the China Banking Regulatory Commission (CBRC) reported.

The Big Four state banks reported that their assets jumped 14 percent to 18.35 trillion yuan (2.26 trillion dollars).

The CBRC said the debts of all banking institutions rose 15.6 percent on a yearly basis to 33.12 trillion yuan (4.08 trillion dollars) by the end of last month.

Source: Xinhua