Financial institutions’ assets increase

Assets of China’s financial institutions rose 9 percent year-on-year to 371.26 trillion yuan ($57.56 trillion) by the end of the second quarter of this year, according to the preliminary statistics released by the People’s Bank of China, the central bank. China’s banking sector held 336 trillion yuan at the end of the second quarter, up 8.6 percent yearon-year, the PBOC said. The securities institutions reported 11.27 trillion yuan of total assets by the end of the second quarter while assets of China’s insurance institutions rose 9.2 percent from a year ago to 23.99 trillion yuan.