Institutional growth stayed steady in 2022: Data

China's financial institutions recorded stable growth in total assets by the end of 2022, data from the country’s central bank showed on Wednesday.

The combined assets of the country’s financial institutions totaled 419.64 trillion yuan (about $ 61.1 trillion), up 9.9 percent year-on-year, according to the People's Bank of China.

Banking institutions, which represent the lion's share of the financial industry, registered a 10 percent increase in total assets over the last year to 379.39 trillion yuan.

Companies in the securities industry saw total assets jump by 6.6 percent year-on-year to 13.11 trillion yuan. The total assets of insurance companies amounted to 27.15 trillion yuan, representing a year-on-year increase of 9.1 percent.

The combined liabilities of these financial institutions rose 10.3 percent from the previous year to 382.33 trillion yuan.

The liabilities of banking institutions, securities firms and insurance companies tallied 348 trillion, 9.89 trillion and 24.45 trillion yuan, marking a year-on-year increase of 10.4 percent, 5.8 percent and 11.3 percent respectively.