The state-owned financial assets of Jiangsu province hit 5.4 trillion yuan last year, according to the Special Report of the People's Government of Jiangsu Province on the State-owned Assets of Financial Enterprises in 2017. The report was released by the provincial department of finance recently.
The report shows that Jiangsu registered 197 state-owned financial enterprises, 137 state-owned absolute holding financial enterprises, and 102 state-owned financial institutions at the end of 2017.
The total assets of the financial enterprises reached 5.4 trillion yuan with the state-owned owner's equity hitting 269.4 billion yuan. [voice over]The average value-added rate of state-owned financial assets in 2017 was approximately 106.12%.
The state-owned assets of financial enterprises are mainly controlled by the provincial institutions and the regional institutions in Nanjing, Wuxi, Changzhou and Suzhou.
The total assets of the province’s financial enterprises reached 2.3 trillion yuan, accounting for 43.18% of the total. The total equity of the state-owned assets reached 1.3 trillion yuan, accounting for 48.7% of the total.
In terms of industry layout, banking financial institutions accounted for the largest proportion, followed by securities and insurance industries.
Jiangsu Provincial Bank, Huatai Securities, Zijin Property Insurance, Jiangsu Provincial Re-guarantee Group, Jiangsu Provincial Agricultural Credit Union and other provincial financial institutions have ensured that the relevant risk control indicators are in line with regulatory standards, indicating sound overall operations.
(Source:ourjiangsu.com)
