China's top five banks' total assets down
Updated: 2011-08-26 09:01
BEIJING-- China's top five banks reported a total of 48.99 trillion yuan ($7.65 trillion) in total assets as of the end of July, 1.23 trillion yuan less than that of June, the country's top banking regulator said Thursday.
The five banks include the Industrial and Commercial Bank of China (ICBC), the China Construction Bank, the Agricultural Bank of China, the Bank of China (BOC) and the Bank of Communications.
The total assets of the five banks were down by 1.23 trillion yuan compared to the end of June, according to figures released Thursday by the China Banking Regulatory Commission (CBRC).
The total liabilities of the five banks stood at 45.91 trillion yuan by the end of July, which were also down by 1.29 trillion yuan compared with one month earlier.
The nation's domestic banking sector reported 103.18 trillion yuan in total assets as of the end of July, down 965.8 billion yuan compared with one month earlier. Meanwhile, total liabilities reached 96.67 trillion yuan, down 1.13 trillion yuan.
ICBC, the country's biggest lender by market value, said Thursday that its net profits for the first half rose 29 percent year-on-year to 109.6 billion yuan. The BOC said Wednesday that its net profits jumped 27.86 percent to 66.51 billion yuan in the same period.
US Vice-President Joe Biden visits China August 17-22.
Li Xing, China Daily's assistant editor-in-chief and veteran columnist, died of a cerebral hemorrhage on Aug 7 in Washington DC, US.
Tea-making treasures catch the fancy of connoisseurs as record prices brew up interest