Caixin Global reported on October 25, 2018 that two central financial committees on October 24 released the new “Comprehensive Report on the Management of State-Owned Assets in 2017.” The Chinese official media said this is the first time a full report has been compiled and made public. The report found that state-owned financial enterprises held 241 trillion yuan ($34.7 trillion) in assets in 2017, equivalent to roughly half of global gross domestic product (GDP) for that year. Liabilities came to 217.3 trillion yuan, giving the government holdings a liability-to-asset ratio of 90.2%. Most assets were concentrated in the hands of centrally managed financial institutions, which held 76.1% of financial assets across 34 institutions, while 23.9% of financial assets were in the hands of 3,065 local and provincial level financial institutions. The major share of assets across both central and local institutions are in the banking sector, which holds 76.1% of total assets.
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