China's banking system has outdone Eurozone to become the largest in the world by assets.
China’s increased influence in world finance and its reliance on debt to drive growth since the 2009 global financial crisis were also considered.
Chinese bank assets had hit $33 trillion at the end of 2016, versus $31 trillion of the eurozone, $16 trillion of the US and $7 trillion of Japan.
The value of China’s banking system is more than 3.1 times the size of its annual economic output, compared with 2.8 times for the eurozone and its banks.
China’s GDP had outperformed EU’s economic bloc in 2011 at market exchange rates, but its banking system did not take over the top spot until the end of 2016.
China's GDP: Know More- GDP (PPP)(2016 estimate)
Total
- $20.853 trillion[12] (1st)
Per capita
- $15,095[12] (83rd)
- GDP (nominal)(2016 estimate)
Total
- $11.383 trillion(2nd)
Per capita
- $8,239[12] (72nd)
- Gini (2015): 46.2
- HDI (2014): Increase 0.727( 90th)
- Currency: Renminbi (yuan; ¥)
