The 2014 China Banking Regulatory Commission (CBRC) Annual Report released on May 15 shows that four private banks have been approved, a historical breakthrough in terms of private capital entering the banking industry.

Currently, private capital makes up over 50 percent of the total investment in more than 100 small and medium-sized commercial banks, the ratio of private capital in rural cooperative finance is over 90 percent and the ratio of private capital in village banks is over 72 percent. Among the 43 privately owned non-banking financial institutions, 6 were newly opened in 2014.

The report also shows that in 2014, the banking industry maintained stable and healthy operations. By the end of 2014, the total assets of China's banking financial institutions had reached 27.8 trillion USD, a year-on-year growth of 13.9 percent, the total liabilities were 25.8 trillion USD, a year-on-year growth of 13.3 percent, and the bad load balance was 230.5 billion USD, with a non-performing loan ratio of 1.6 percent, a relatively low level.

Meanwhile, the endogenous risk resistance capacity of the industry has been further improved. By the end of 2014, the capital adequacy ratio of commercial banks was 13.2 percent, 1 percent up from the beginning of the year; and the loan loss reserve balance was 316 billion USD, with provision coverage ratio 232 percent.