Foreign bank assets in China reach $193 bln

Foreign assets now make up 2.44 percent of all assets at financial firms in China's banking industry, the state-run People's daily reported.

Compared other nations, the proportion of assets from foreign banks in China is still small, said Yang Zaiping, vice president of the CBA on Sunday.

The total loan balance from the foreign banks was up 61.1 percent to $105.8 billion at the end of March. Savings deposits were up 84.0 percent to $68.8 billion.

There are currently 57 foreign banks and 25 foreign corporate banks operating branches in China providing services in the local currency, the CBA said. Fifty banks are allowed to trade financial derivatives.