China's financial institutions register rising total assets

BEIJING -- The total assets of Chinese financial institutions rose 11.2 percent year-on-year to 347.32 trillion yuan (about $53.18 trillion) at the end of the third quarter, central bank data showed.

At the end of Q3, banking institutions saw their total assets at 315.18 trillion yuan, up 10.5 percent year-on-year, according to the People's Bank of China.

The total assets of securities institutions rose 23.9 percent year-on-year to 9.7 trillion yuan, while those of insurance institutions rose 12.4 percent to 22.44 trillion yuan.

The total liabilities of China's financial institutions were 316.12 trillion yuan, up 11.3 percent from a year ago, the data showed.