In 2023, the financial intermediation sector contributed around eight percent to China's gross domestic product. In 1978, at the beginning of the country's opening-up period, the financial sector contributed around 2.1 percent to the GDP.

Graph and download economic data for Total Credit to Private Non-Financial Sector, Adjusted for Breaks, for China (QCNPAM770A) from Q4 1985 to Q4 2024 about adjusted, credits, nonfinancial, China, sector, and private.

Key information about China Credit to Private Non-Financial Sector

• China Credit to Private Non-Financial Sector was reported at 37,925.549 USD bn in Sep 2024
• This records an increase from the previous number of 36,249.921 USD bn for Jun 2024
• China Credit to Private Non-Financial Sector data is updated quarterly, averaging 2,349.750 USD bn from Dec 1985 to Sep 2024, with 156 observations
• The data reached an all-time high of 37,925.549 USD bn in Sep 2024 and a record low of 171.490 USD bn in Sep 1986
• China Credit to Private Non-Financial Sector data remains active status in CEIC and is reported by Bank for International Settlements
• The data is categorized under World Trend Plus’s Association: Banking Sector – Table RC.BIS.CNFS: F2 Credit from All Sector to Private Non-Financial Sector (PNFS): Market Value: USD

Financial system deposits to GDP (%) in China was reported at 48.67 % in 2021, according to the World Bank collection of development indicators, compiled from officially recognized sources. China - Financial system deposits to GDP - actual values, historical data, forecasts and projections were sourced from the World Bank on July of 2025.

Since the 2011 Financial Sector Assessment Program (FSAP), China’s economic growth has remained strong, although a necessary economic transformation is underway. China now has the world’s largest GDP in PPP terms, and poverty rates have fallen. However, medium-term growth prospects have moderated. The limits to the investment-driven growth strategy, combined with an aging population, waning dividends from past reforms, and a challenging external environment, have necessitated a transformation towards a more market-oriented economy that is more consumption-based, more services-driven, less credit-dependent and, especially, more efficient. This transformation has already started, as the Chinese authorities are increasingly emphasizing the quality of growth and have pushed structural reforms. The economic transformation requires a fundamental change in the role of the financial system. Historically its role was to channel China’s high savings at low cost to strategic sectors. China’s economic rebalancing is multi-dimensional, and there is a need to significantly improve the financial sector’s capital allocation to promote the rebalancing from investment to consumption; from heavy manufacturing to services; and from large to small enterprises. Looking ahead, the financial system will need to become more balanced, sustainable and inclusive, to facilitate China’s economic transformation, where markets play an increasingly dominant role in resource allocation and where consequences of risk-taking are well-understood and accepted. Maintaining financial stability would also require that remaining gaps in regulatory frameworks be addressed. The standard assessments for the banking, insurance, and securities sectors show a high degree of compliance with international standards, but also point to critical gaps. Themes that cut across China’s regulatory agencies include a lack of independence, insufficient resources for supervising a large and increasingly complex financial sector, and inadequate interagency coordination and systemic risk analysis. The remaining priorities for financial market infrastructure oversight include the adoption of full delivery-versus-payment and a stronger legal basis for settlement finality. Further enhancements to crisis management frameworks are needed to allow financial institutions to fail in a manner that minimizes the impact on financial stability and public resources. This would require amongst others greater emphasis on financial stability rather than social concerns in dealing with real and potential crisis situations, the introduction of a special resolution regime for failing banks, and a streamlining of the current system of financial safety nets.

In 2023, the value added of financial intermediaries in Beijing municipality in China amounted to around ****** billion yuan. The financial sector is an important part of Beijing's economy and contributed nearly ** percent to the total GDP of Beijing that year.

Key information about China Debt Service Ratio: Private Non-Financial Sector

• China Debt Service Ratio: Private Non-Financial Sector was reported at 18.600 % in Sep 2024
• This stayed constant from the previous number of 18.600 % for Jun 2024
• China Debt Service Ratio: Private Non-Financial Sector data is updated quarterly, averaging 15.100 % from Mar 1999 to Sep 2024, with 103 observations
• The data reached an all-time high of 18.600 % in Sep 2024 and a record low of 9.900 % in Jun 1999
• China Debt Service Ratio: Private Non-Financial Sector data remains active status in CEIC and is reported by Bank for International Settlements
• The data is categorized under World Trend Plus’s Association: Banking Sector – Table RC.BIS.DSR: G1 Private Non-Financial Sector (PNF): Quarterly

Graph and download economic data for Total Credit to Non-Financial Sector, Adjusted for Breaks, for China (QCNCAMUSDA) from Q4 1995 to Q4 2024 about adjusted, credits, nonfinancial, China, and sector.

China has made significant progress in financial inclusion. High levels of account penetration, savings, and usage of payments services have been achieved, largely due to extensive branches and access points (particularly a vast network of rural cash withdrawal points), innovations by non-bank payment providers, and expansion of government-to-person transfers and bankcard programs. Account penetration in China is quite high, with estimates ranging from over 80 to 90 percent, which compares well to the EAP regional average but is lower than the high-income country average. The rapid growth in fintech has led to millions of previously underserved mass retail consumers accessing lower cost and better tailored financial products and services.

In 2023, the value added of financial intermediaries in Shanghai municipality in China amounted to around ***** billion yuan. The financial sector is an important part of Shanghai's economy and contributed approximately **** percent to the total GDP of Shanghai.

Domestic credit provided by financial sector (% of GDP) in China was reported at 218 % in 2018, according to the World Bank collection of development indicators, compiled from officially recognized sources. China - Domestic credit provided by banking sector (% of GDP) - actual values, historical data, forecasts and projections were sourced from the World Bank on July of 2025.

Credit is provided by domestic banks, all other sectors of the economy and non-residents. The "private non-financial sector" includes non-financial corporations (both private-owned and public-owned), households and non-profit institutions serving households as defined in the System of National Accounts 2008. The series have quarterly frequency and capture the outstanding amount of credit at the end of the reference quarter. In terms of financial instruments, credit covers loans and debt securities.(1)

The combination of different sources and data from various methodological frameworks resulted in breaks in the series. The BIS is therefore, in addition, publishing a second set of series adjusted for breaks, which covers the same time span as the unadjusted series. The break-adjusted series are the result of the BIS's own calculations, and were obtained by adjusting levels through standard statistical techniques described in the special feature on the long credit series of the March 2013 issue of the BIS Quarterly Review at https://www.bis.org/publ/qtrpdf/r_qt1303h.htm. (1)

Source Code: Q:CN:P:A:M:770:A

(1) Bank for International Settlements. "Long series on credit to private non-financial ://www.bis.org/statistics/credtopriv.htm

Copyright, 2016, Bank for International Settlements (BIS). Terms and conditions of use are available at http://www.bis.org/terms_conditions.htm#Copyright_and_Permissions.

Unless otherwise specified, series values are market values. For information specifying what comprises G20, Advanced Economies, Emerging Market Economies, and All Reporting Economies, visit https://www.bis.org/statistics/totcredit/tables_f.pdf

An investigation into China's economy and market openness based on key economic data indicates that the economy in China today is generally more open than in 2010, but less open than in many other advanced countries. The development of the financial system reached a score of *** on a scale from zero (low development) to ten (high development), less than the open economy average of ***. Other investigated measures include: the level of allowed and supported market competition, the development of a modern innovation system, trade openness, direct investment openness, and portfolio investment openness.

The size of the Banking Industry in China market was valued at USD XX Million in 2023 and is projected to reach USD XXX Million by 2032, with an expected CAGR of 10.00% during the forecast period. The banking industry is a crucial sector of the global economy, encompassing a range of financial institutions that provide various financial services to individuals, businesses, and governments. This industry is primarily divided into several key segments, including commercial banks, investment banks, retail banks, and central banks. Commercial banks are the backbone of the banking system, offering services such as savings and checking accounts, loans, mortgages, and credit cards to consumers and businesses. Retail banks focus on individual customers, providing personal banking services and products designed for everyday financial needs. Investment banks, on the other hand, specialize in facilitating capital markets transactions, assisting corporations in raising capital through the issuance of stocks and bonds, and providing advisory services for mergers and acquisitions. Central banks play a pivotal role in a country's economy by regulating monetary policy, controlling inflation, and managing national currency and interest rates. Key drivers for this market are: Guaranteed Protection Drives The Market. Potential restraints include: Long and Costly Legal Procedures. Notable trends are: Technology and Digitalization Trends are Driving the Market.

Chinas Kredit an Private Non-Financial Sector belief sich im 2024-09 auf 37,925.549 USD Mrd.. Dies stellt einen Anstieg im Vergleich zu den vorherigen Zahlen von 36,249.921 USD Mrd. für 2024-06 dar. Chinas Kredit an Private Non-Financial Sector werden vierteljährlich aktualisiert, mit einem Durchschnitt von 2,349.750 USD Mrd. von 1985-12 bis 2024-09, mit 156 Beobachtungen. Die Daten erreichten ein Allzeithoch in Höhe von 37,925.549 USD Mrd. im 2024-09 und ein Rekordtief in Höhe von 171.490 USD Mrd. im 1986-09. Chinas Kredit an Private Non-Financial Sector Daten behalten den Aktiv-Status in CEIC und werden von Bank for International Settlements gemeldet. Die Daten werden unter World Trend Pluss Association: Banking Sector – Table RC.BIS.CNFS: F2 Credit from All Sector to Private Non-Financial Sector (PNFS): Market Value: USD kategorisiert.

In 2023, the total assets of banks in China amounted *** trillion yuan, a *** percent increase compared to the previous year. Assets of large commercial banks accounted for almost **** percent of total banking assets which amounted to *** trillion yuan. Joint-stock commercial banks held assets valued at **** trillion yuan in 2020.

China’s banking sector

China’s multilayered banking industry was developed by large, state-owned banks. On top of the bank-hierarchy were the “Big Four” commercial banks. They included the Industrial and Commercial Bank of China, the China Construction Bank, the Bank of China and the Agricultural Bank of China. In addition to those, there are also thirteen joint-stock commercial banks which include the China Merchants Bank and Bank of Communications. Their asset value was significantly smaller than the value of the “Big Four”. On a local level, over a hundred commercial banks provide financial services throughout China.

Non-performing loan issues

Since China began opening up its banking sector, international analysts had questioned the quality of loans from Chinese banks. Many accused Chinese institutions of engaging in questionable lending practices which eroded the quality of the bank’s underlying assets. Furthermore, the possibility of an industry-wide prevalence of bad loans could expose the whole industry to systematic risks. However according to official numbers, the ratio of non-performing loans was comparable to healthy European economies. Nonetheless, state regulators were aware of these issues and introduced a debt-equity swap program in 2016 where government-financed asset management companies bought up bad loans from banks.

China - Credit from All sectors to Non financial sector at Market value, Percentage of GDP, Adjusted for breaks

Chinas Debt Service Ratio: Private Non-Financial Sector belief sich im 2024-09 auf 18.600 %. Dies stellt keine Veränderung im Vergleich zu den vorherigen Zahlen von 18.600 % für 2024-06 dar. Chinas Debt Service Ratio: Private Non-Financial Sector werden vierteljährlich aktualisiert, mit einem Durchschnitt von 15.100 % von 1999-03 bis 2024-09, mit 103 Beobachtungen. Die Daten erreichten ein Allzeithoch in Höhe von 18.600 % im 2024-09 und ein Rekordtief in Höhe von 9.900 % im 1999-06. Chinas Debt Service Ratio: Private Non-Financial Sector Daten behalten den Aktiv-Status in CEIC und werden von Bank for International Settlements gemeldet. Die Daten werden unter World Trend Pluss Association: Banking Sector – Table RC.BIS.DSR: G1 Private Non-Financial Sector (PNF): Quarterly kategorisiert.

In 2022, the financial intermediation sector added around **** trillion yuan to China's gross domestic product (GDP). This was around *** percent of China's GDP.

Key information about Hong Kong SAR (China) Debt Service Ratio: Private Non-Financial Sector

• Hong Kong SAR (China) Debt Service Ratio: Private Non-Financial Sector was reported at 35.600 % in Sep 2024
• This records a decrease from the previous number of 35.900 % for Jun 2024
• Hong Kong SAR (China) Debt Service Ratio: Private Non-Financial Sector data is updated quarterly, averaging 20.700 % from Mar 1999 to Sep 2024, with 103 observations
• The data reached an all-time high of 37.400 % in Mar 2024 and a record low of 14.400 % in Sep 2004
• Hong Kong SAR (China) Debt Service Ratio: Private Non-Financial Sector data remains active status in CEIC and is reported by Bank for International Settlements
• The data is categorized under World Trend Plus’s Association: Banking Sector – Table RC.BIS.DSR: G1 Private Non-Financial Sector (PNF): Quarterly