Financial institutions report rising assets ASSETS of China’s financial institutions totaled 371.26 trillion yuan (US$57.56 trillion) by the end of the second quarter of this year, official data showed. The volume increased by 9.1 percent year on year, according to the preliminary statistics released by the People’s Bank of China. China’s banking sector held 336 trillion yuan at the end of the second quarter, up 8.6 percent year on year, the central bank said. The securities institutions reported 11.27 trillion yuan in total assets by the end of the second quarter while assets of China’s insurance institutions rose 9.2 percent from a year ago to 23.99 trillion yuan. Crude oil output up 2.3% in August CHINA’S crude oil output rose 2.3 percent year on year to 17.03 million tons in August, official data showed. The August output grew 4.7 percent from the 2019 level. The daily oil output last month stood at 549,000 tons, according to the National Bureau of Statistics (NBS). In the first eight months, the country’s crude oil output came in at 133.22 million tons, an increase of 2.4 percent from a year earlier. As one of the world’s largest oil buyers, China imported 44.53 million tons of crude oil in August, down 6.2 percent year on year. Postal sector sees robust revenue growth CHINA’S postal industry reported a robust increase in business revenue in the first eight months of this year, official data showed. The sector raked in a total of 816.54 billion yuan (US$126.6 billion) during the period, rising 20.1 percent year on year, according to the State Post Bureau. In August alone, the sector’s business revenue grew 15 percent year on year to 102.01 billion yuan. China’s express delivery companies handled 67.32 billion parcels from January to August, surging 40.1 percent from a year earlier. Their business revenue amounted to 650.94 billion yuan during the period, a yearly increase of 23.4 percent. Domestic auto brands gain higher market share DOMESTIC automobile brands saw their market share expanding to 42.1 percent in August, up 8.3 percentage points year on year, according to a monthly report from the China Passenger Car Association. The retail sales of local cars reached 600,000 units in August. According to the report, the figure represents a 6 percent growth from the same period in 2020 and is 10 percent higher than 2019. | 