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China banking sector assets up 10% YOY in October

The value of assets held by the China banking sector climbed 10% year over year to 241.58 trillion yuan as of the end of October and the growth rate was 0.6 percentage point slower than that of September, China Banking Regulatory Commission data showed Nov. 27.

Liabilities increased by 10% year over year to 222.66 trillion yuan while growth was 0.6 percentage point slower than that of September.

Assets held by commercial banks were at 187.38 trillion yuan, accounting for 77.6% of the sector's total assets. Liabilities of commercial banks amounted to 173.16 trillion yuan, accounting for 77.8% of total liabilities.

As of Nov. 27, US$1 was equivalent to 6.60 Chinese yuan.