China's financial institutions logged an annual 8% increase in assets to 489.2 trillion yuan as of the end of the third quarter, according to data from the People's Bank of China.

Banking sector assets climbed 7.3% to 439.5 trillion yuan. Meanwhile, the assets of securities institutions rose 8.7% to 14.6 trillion yuan and those of the insurance sector rose 18.3% to 35 trillion yuan.

The liabilities of financial institutions went up 8% to 446.5 trillion yuan.