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China's financial sector reports remarkable progress over 14th Five-Year Plan period
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BEIJING, Sept. 23 (Xinhua) -- China's financial sector has achieved remarkable progress during the 14th Five-Year Plan period (2021-2025), with banking assets nearing 470 trillion yuan (66.2 trillion U.S. dollars) at the end of June this year to rank first globally.
The quality and efficiency of financial services supporting the real economy have improved significantly.
Non-performing asset disposals have increased by over 40 percent compared to the 13th Five-Year Plan period.
The industry's combined capital and provisions against risks total more than 50 trillion yuan, providing stronger resilience to challenges, Li said.
And in recent years, more than 90 percent of newly listed companies have been tech companies or companies with a high level of technological expertise, he said.
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