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BEIJING, July 15 (Xinhua)-- Chinese commercial banks' bad loan rate continued to rise in the second quarter of the year, the country's banking sector watchdog announced Friday.
The bad loan rate of China's commercial banks rose to 1.81 percent by the end of June, compared with 1.75 percent in Q1, the China Banking Regulatory Commission said in a statement.
The total assets of the banking sector stood at 212.31 trillion yuan (about 31.8 trillion U.S.dollars) by the end of June, up 15.6 percent year on year.
Chinese banking institutions put aside 3.47 trillion yuan to cover bad loan losses and maintained a high level of provision coverage ratio of 161.3 percent while major commercial banks kept a capital adequacy ratio of 13.2 percent, which helps banks prepare for bad loan risks, according to the statement.
