Banks set to put greater focus on 'real economy'

Tighter financial regulations have prompted Chinese banks to apportion greater resources to the real economy, the part that produces goods and services, and improve the overall quality of financial services while keeping risks at controllable levels, said an official of the China Banking Regulatory Commission.

At the end of 2017, the balance of various bank loans increased by 12.4 percent year-on-year to 129 trillion yuan ($20.49 trillion).

The growth rate was higher than the 8.7 percent increase in bank assets held in Chinese and foreign currencies, according to data released by the CBRC on Friday.