BEIJING, June 27, 2022 (Xinhua) Industrial data released by the China Credit Association showed that assets of China’s credit industry declined slightly by the end of the first quarter of this year amid downward pressure on the economy and volatility in the capital market.
The data showed that the value of the country’s outstanding credit assets stood at 20.16 trillion yuan (about 3 trillion US dollars) by the end of the first quarter, down 0.22 trillion yuan, or 1.06 percent, from a year earlier.
The operating revenue of China’s credit industry fell 28.25 percent year on year to 20.52 billion yuan, according to the data.
A total of 3.54 trillion yuan of credit investment went to the securities sector, up 5.51 percent month on month. The volume of funds directed to industrial and commercial institutions, and the real estate sector decreased by 4.23 percent and 10.85 percent, respectively, on a monthly basis.