Translation. Region: Russian Federal
Source: People's Republic of China in Russian – People's Republic of China in Russian –
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Source: People's Republic of China – State Council News
On September 22, the State Council Information Office held a thematic press conference titled "High-Quality Implementation of the 14th Five-Year Plan," where the heads of the People's Bank of China, the State Financial Supervision Administration, the China Securities Regulatory Commission, and the State Administration of Foreign Exchange reported on the achievements in the financial sector during the 14th Five-Year Plan.
According to Pan Gongsheng, Governor of the People's Bank of China, during the 14th Five-Year Plan period, Chinese bank assets reached nearly 470 trillion yuan—the largest in the world. China's stock and bond markets ranked second globally and it has held the lead in gold and foreign exchange reserves for 20 consecutive years. China is a global leader in green, inclusive, and digital finance. China has developed a multi-channel, widely accessible, secure, and efficient cross-border payment and yuan settlement network, and its mobile payment development is world-leading.
According to Li Yunze, director of China's State Financial Supervision Administration, total assets in the banking and insurance sectors currently exceed 500 trillion yuan, growing at an average annual rate of 9% over the past five years, strengthening China's position as the world's largest credit market and second-largest insurance market. Assets under management by trust, wealth, and insurance asset management agencies have reached nearly 100 trillion yuan, double the level at the end of the 13th Five-Year Plan period. Among the world's top 1,000 banks, 143 are Chinese, and six of the top 10 are Chinese banks.
Li Yunze also reported that during the 14th Five-Year Plan period, the banking and insurance sectors provided 170 trillion yuan in new funds to the real economy through various means, including loans, bonds, and equity. Lending for scientific research and technology, medium- and long-term loans to the manufacturing industry, and infrastructure loans grew annually by 27.2%, 21.7%, and 10.1%, respectively. The balance of inclusive loans for small and micro enterprises amounted to 36 trillion yuan, 2.3 times more than at the end of the 13th Five-Year Plan period, while the interest rate decreased by 2 percentage points. Social security was significantly strengthened.
Please note: This information is raw content obtained directly from the source. It represents an accurate account of the source's assertions and does not necessarily reflect the position of MIL-OSI or its clients.
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