China’s State Financial Assets Expands 66% in Five Years, Report Shows

What’s new: Chinese state-owned financial companies held 27.6 trillion yuan in equity capital as of the end of 2022, according to the second report on the firms’ assets released by the Finance Ministry on Oct. 21.

China tallied its total assets across its sprawling network of thousands of state-owned companies for the first time in 2018. The report was made to the Standing Committee of the National People’s Congress, the country’s top legislative body.