Hey fam, did you catch the latest scoop? The Chinese mainland’s finance game is leveling up big time during its 14th Five-Year Plan (2021–25). From jaw-dropping banking assets to booming stock markets and rock-solid reserves, here’s the TL;DR you need. 🚀
Banking on Growth 💸
As of June 2023, the Chinese mainland’s banking sector racked up nearly 470 trillion yuan (that’s about $66 trillion!), ranking #1 globally. Plus, its stock and bond markets are chilling at the world’s #2 spot, while foreign exchange reserves secure the top slot for 20 straight years. Talk about financial flex! 💪
Taming Risks 🔍➞📈
Risky institutions? Chilled out. Regulators have driven down the number of high-risk banks and assets, with many provinces dynamically clearing out small & medium players. Even the property market got a boost: 1.6 trillion yuan flowed into key housing projects, and rental housing loans grew a whopping 52% per year. Stability unlocked! 🏠✨
A-Shares on Fire 🔥
By August 2023, medium- & long-term funds in A-shares hit 21.4 trillion yuan—up 32% since the last plan—and the total A-share market value smashed past 100 trillion yuan (over $14 trillion) for the first time. Investor vibes are strong! 📈
Rock-Solid FX Reserves 🌏
Foreign exchange reserves stayed above $3 trillion since 2021, even topping $3.2 trillion in the last two years. This big war chest is a key guardrail for smooth global trade and finance. 💹
Overall, the Chinese mainland’s financial sector isn’t just expanding—it’s building resilience, tackling risks, and backing the real economy like never before. More power moves ahead! 🌟
Reference(s):
China's financial sector achieves pivotal progress during 14th FYP
cgtn.com
