This photo taken on Oct. 30, 2025 shows a view of the Youdian Village in Jinxi County, east China's Jiangxi Province. [Photo/Xinhua]

China's small and medium-sized banks in rural areas have seen steady expansion in scale, with their overall growth becoming more stable and sound, according to a report recently released by the China Banking Association.

As of the end of 2024, their total assets and liabilities had reached 57.91 trillion yuan (about 8.18 trillion U.S. dollars) and 53.69 trillion yuan, up 6.06 percent and 6.02 percent year on year, respectively, the report showed.

Outstanding loans at these banking institutions accounted for more than 55 percent of their total assets by the end of 2024, with their credit business continuing to focus on the real economy, the report said.

The report indicated that rural small and medium-sized banks are embracing multiple strategic opportunities, such as rural revitalization, coordinated regional development, and upgrading consumer spending. They are also confronting practical challenges, including intensifying market competition and lagging digital transformation.

They should strengthen risk early warning and internal controls, advance digital transformation suited to their resource conditions, and speed up the cultivation of professional and versatile talent to achieve high-quality, sustainable development while serving the real economy, the report said.