China's financial institutions' assets up 8.1 pct in 2021

BEIJING, March 20 (Xinhua) -- China's financial institutions saw expanded balance sheets in 2021, according to official data.

The country's financial institutions saw their combined assets increase 8.1 percent year on year to 381.95 trillion yuan (about 60.22 trillion U.S. dollars) by the end of 2021, while their combined liabilities rose 7.9 percent from a year earlier to 346.58 trillion yuan, data from the People's Bank of China showed.

Banking institutions, accounting for the lion's share of the financial industry, reported a 7.8-percent rise in total assets, while companies in the securities industry saw their combined assets jump 21.2 percent year on year.

The country's insurers reported combined assets of 24.89 trillion yuan, up 6.8 percent year on year, the central bank data showed.