China's financial institutions post rising assets

BEIJING -- China's financial institutions saw expanded balance sheets by the end of the third quarter this year, official data showed Wednesday.

The country's financial institutions saw their combined assets increase 8.2 percent year-on-year to 375.68 trillion yuan (about $58.96 trillion) by the end of Q3, while their combined liabilities rose 8 percent from a year earlier to 341.3 trillion yuan, data from the People's Bank of China showed.

Banking institutions, accounting for the lion's share of the financial industry, reported a 7.7-percent rise in total assets, while companies in the securities industry saw their combined assets jump 23.7 percent year-on-year by the end of Q3.

The country's insurers reported combined assets of 24.32 trillion yuan, up 8.4 percent year-on-year, the central bank data showed.