China's financial institutions see rising assets

BEIJING - Assets of financial institutions in China rose to 452.82 trillion yuan ($63.82 trillion) at the end of the third quarter, up 9.5 percent year-on-year, according to the central bank.

Assets of the banking sector totaled 409.77 trillion yuan at the end of September, up 9.6 percent from a year earlier, and assets of securities institutions rose 4.6 percent to 13.46 trillion yuan, the People's Bank of China said in a statement.

Meanwhile, insurance sector assets hit 29.59 trillion yuan, up 10.8 percent from a year earlier.

Financial institution liabilities stood at 413.3 trillion yuan, up 9.7 percent year-on-year. Of the total, banking institution liabilities accounted for 376.38 trillion yuan, up 9.8 percent year-on-year.

Liabilities of securities institutions were 10.11 trillion yuan, up 4.4 percent year-on-year. Liabilities of insurance institutions were 26.81 trillion yuan, up 11.8 percent year-on-year.