China overtakes eurozone as world’s biggest bank system

Posted on:08 Mar 2017 09:54:51
China overtakes eurozone as world’s biggest bank system
08 March 2017 Current Affairs: According to the Financial Times shows latest analysis, China’s banking system has overtaken the b to become the world’s biggest by assets.

China’s GDP surpassed the EU’s in 2011 at market exchange rates, but its banking system did not take over the top spot until 2016.

The value of China’s banking system is more than 3.1 times the size of the country’s annual economic output, compared with 2.8 times for the eurozone and its banks

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