Assets of China's city commercial banks exceed 40t yuan

BEIJING -- Total assets of China's city commercial banks reached 41.1 trillion yuan (about $6.43 trillion) at the end of 2020, a report from the China Banking Association showed.

The amount rose 10.2 percent year-on-year, a pace 1.7 percentage points faster than that at the end of 2019, according to the report on the development of city commercial banks.

These banks' scale and development capacity registered steady growth in the past year as main profit indicators maintained in a reasonable range and their ability to resist risks was enhanced, said the report.

It also showed that these banks' combined outstanding deposits climbed 13 percent year on year at the end of 2020, and their non-performing loan ratio stood at 1.81 percent, down 0.51 percentage points from the end of 2019.