Chinese bank assets hit $22.9 trillion in July

Chinese banks recorded 140.45 trillion yuan ($22.9 trillion) in total assets by the end of July, up 14.3 percent from the same period last year, the China Banking Regulatory Commission said on Monday.

The growth rate was 0.8 percentage point higher than in June. Liabilities were 131.06 trillion yuan, a year-on-year increase of 14 percent.

Assets of large commercial banks reached 60.22 trillion yuan, up 8.8 percent year-on-year and 1.5 percent higher than in June, accounting for 42.9 percent of the financial banking industry.

The banks' total liabilities stood at 56.05 trillion yuan, 8.4 percent higher than last year.