Bank assets hit $22.9 trillion

Banks recorded 140.45 trillion yuan ($22.9 trillion) in total assets by the end of July, up 14.3 percent from the same period last year, according to the China Banking Regulatory Commission on Monday.

The growth rate is 0.8 percentage points higher than June.

Liabilities were 131.06 trillion yuan, registering a year-on-year increase of 14 percent.

Assets of large commercial banks reached 60.22 trillion yuan, up 8.8 percent from the same time the previous year and 1.5 percent higher than June, accounting for 42.9 percent of the financial banking industry.

Their total liabilities stood at 56.05 trillion yuan, 8.4 percent higher than last year, taking up 42.8 percent of the total.