A clerk counts cash at a bank in Nantong, East China’s Jiangsu province. [Photo/IC] BEIJING – Total assets of China’s financial institutions rose to 476.49 trillion yuan ($66.93 trillion) as of the end of March this year, according to data released by the country’s central bank on Thursday. The figure represented a year-on-year increase of … Continue reading China’s financial institutions report 8.5% growth in total assets
Tag: assets
Policy rate cuts key to fattening ‘wallets’
A woman shows banknotes and coins included in the 2019 edition of the fifth series of the renminbi. [Photo/Xinhua] The most prominent problem facing the Chinese economy is low prices, which have made it difficult for enterprises to increase revenues and profits. In the labor market, new jobs are limited, and the growth rate of … Continue reading Policy rate cuts key to fattening ‘wallets’
China seen continuing to cut US debt holdings
A teller counts and arranges dollar notes at an Agricultural Bank of China branch in Qionghai, Hainan province. [Photo/China Daily] China is likely to continue to reduce the share of United States debt in its overall foreign exchange reserves as it ramps up efforts to diversify foreign asset portfolios to reduce risk exposure, experts said … Continue reading China seen continuing to cut US debt holdings