CCTV News (News Network): The latest data released by the State Administration for Financial Supervision and Administration shows that at the end of the fourth quarter of 2024, the total assets of domestic and foreign currencies of financial institutions in my country's banking industry were 444.6 trillion yuan, and the total assets of insurance companies and insurance asset management companies were 35.9 trillion yuan, an increase of 6.5% and 13.9% year-on-year respectively. The total assets of the banking and insurance industries continued to grow.
In terms of supporting the real economy, financial services in the banking and insurance industries continue to strengthen. At the end of the fourth quarter of 2024, the loan balance of banking financial institutions for small and micro enterprises was 81.4 trillion yuan, of which the balance of loans for inclusive small and micro enterprises increased by 14.7% year-on-year. In 2024, insurance companies' compensation and payment expenditures were 2.3 trillion yuan, an increase of 19.4% year-on-year.
In terms of asset quality, at the end of the fourth quarter of 2024, the non-performing loan ratio of commercial banks was 1.5%, down 0.05 percentage points from the end of the previous quarter, and the quality of credit assets was generally stable. At the same time, the insurance industry has sufficient solvency. At the end of the fourth quarter of 2024, the insurance industry's comprehensive solvency adequacy ratio was 199.4%, which is at a high level, showing strong solvency and stability.
