Financial institutions boost lending, assets

Banking institutions in China saw an increase in total assets in 2018, with a rapid increase in loans, the country’s top banking regulator said. By the end of last year, onshore assets of the industry totaled 261.4 trillion yuan ($38.49 trillion), up 6.4 percent year-onyear, said Liu Zhiqing, an official with the China Banking and Insurance Regulatory Commission. Loans on the balance sheets of the banks climbed 12.6 percent yearon-year to 140.6 trillion yuan, Liu said. Credit quality was generally stable, with the nonperforming loan ratio of commercial banks standing at 1.89 percent.