On January 6, 2022, the China Banking and Insurance Regulatory Commission held the 278th Banking and Insurance Industry Rational Press Conference. Zhang Zhongning, deputy director of the General Office of the China Banking and Insurance Regulatory Commission, introduced the banking and insurance industry from January to November 2021 at the press conference.
Zhang Zhongning said that the assets and business of the banking and insurance industry have maintained steady growth. At the end of November 2021, total domestic assets of the banking industry were 335.2 trillion yuan, a year-on-year increase of 7.6%; total domestic liabilities were 306.2 trillion yuan, a year-on-year increase of 7.4%. The total assets of the insurance industry were 24.6 trillion yuan, a year-on-year increase of 12.1%. The business of bancassurance institutions achieved steady development. The balance of RMB loans increased by 11.7% year-on-year, and the balance of insurance funds used was 22.8 trillion yuan, a year-on-year increase of 12.3%. In the first 11 months of 2021, insurance companies will achieve 4.2 trillion yuan in original insurance premium income, which continues to grow steadily.
At the same time, the ability of the banking and insurance industry to serve the real economy continued to be consolidated. Zhang Zhongning said that in the first 11 months of 2021, 19.2 trillion yuan of new loans will be invested mainly in manufacturing infrastructure construction and other fields. As of the end of November 2021, the balance of loans to inclusive small and micro enterprises was 18.7 trillion yuan, a year-on-year increase of 24.1%. The amount of risk protection provided by the insurance industry increased by 34.6% year-on-year. In the first 11 months of 2021, the insurance industry has accumulated 1.4 trillion yuan in compensation payments, a year-on-year increase of 15.4%.
In terms of real estate loans, Zhang Zhongning emphasized “resolutely implement the policy of housing and non-speculation.” At the end of November 2021, real estate loans increased by 8.4% year-on-year, and remained stable overall. The reasonable housing needs of home buyers have been further satisfied, and more than 90% of personal housing loans are used to support the first home. Financial support for the construction of affordable housing in the long-term rental housing market has increased. The growth rate of loans to the housing rental market is close to five times the average growth rate of various loans.
In addition, the risk indicators of the banking and insurance industry are within a reasonable range. Zhang Zhongning said that at the end of November 2021, the non-performing loan ratio of banking financial institutions was 1.89%, a decrease of 0.04 percentage points from the beginning of the year, and the provision coverage ratio was 192.9%, an increase of 10 percentage points from the beginning of the year. At the end of the third quarter of 2021, the average comprehensive solvency adequacy ratio of 179 insurance companies was 240%, and the overall risk was controllable.Return to Sohu to see more
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