Assets of Chinese banks hit US$22.9 trillion in July

Liabilities rose 14% to US$21.4 trillion, however.

The China Banking Regulatory Commission said the growth rate was 14.3% higher year-on-year and 0.8% higher than June. Liabilities were US$21.4 trillion, a year-on-year increase of 14%.

Assets of large commercial banks reached US$9.84 trillion, up 8.8% year-on-year and 1.5% higher than in June. This total accounted for 43% of the financial banking industry. The banks' total liabilities stood at US$9.16 trillion, 8.4% higher than last year.