Xiao Yuanqi, Deputy Director of the State Administration of Financial Regulation of China, said in Beijing on the 21st that Chinese banks and insurance institutions have ample "ammunition" to resist risks, and the ability of financial institutions to serve the real economy has further improved. Xiao Yuanqi revealed at a press conference held by the State Council Information Office on the same day that as of the end of July, the total assets of China's banking and financial institutions amounted to 42.38 trillion yuan (RMB), a year-on-year increase of 7%; The total assets of the insurance industry were 33.9 trillion yuan, an increase of 7.7% from the beginning of the year. At the end of July, the non-performing loan ratio of the banking industry was 1.61%, 0.08 percentage points lower than the same period last year. In the first half of this year, banks disposed of non-performing assets worth 1.4 trillion yuan, and the disposal efforts were further intensified. In terms of risk offsetting, he stated that as of the end of July, the bank's loan provision coverage ratio was 216.7%, which means that the loan loss provision is more than twice that of non-performing loans. At the end of the first half of the year, the capital adequacy ratio of banks was 15.53%, and the comprehensive solvency and core solvency adequacy ratios of insurance companies were 195.5% and 132.4%, respectively. Banks and insurance institutions have ample ammunition to resist risks. Xiao Yuanqi also mentioned that financial institutions continue to increase their financial supply for major strategies, key areas, and weak links, making it more precise and efficient. At the end of July, the balance of RMB loans was 251 trillion yuan, an increase of 13.5 trillion yuan from the beginning of the year; The bond investment balance of banks and insurance institutions was 103 trillion yuan, an increase of 4.9 trillion yuan from the beginning of the year; The balance of insurance fund utilization was 31 trillion yuan, an increase of 7.4% compared to the beginning of the year. At the same time, the funding supply structure has been further optimized, especially in the fields of advanced manufacturing and technological innovation, which have received greater support. As of the end of July, manufacturing loans increased by 11.4% year-on-year, and high-tech industry loans increased by 13.9% year-on-year. In addition, in the first seven months of this year, the insurance industry's claims and payment expenses amounted to 1.39 trillion yuan, a year-on-year increase of 30.2%, significantly higher than the growth rate of premium income during the same period. The insurance industry has played an important role in coping with recent disasters such as rainstorm and flood. Yin Jiang'ao, Director of the Property and Insurance Regulatory Department of the State Administration of Financial Regulation, said at a press conference that as of now, insurance has paid out approximately 2.8 billion yuan in areas such as Hunan, Jiangxi, and Guangdong, which have been severely affected by disasters in the southern region this year. (New Society)