China overtakes eurozone as world’s biggest bank system

According to the Financial Times, China’s banking system has overtaken the eurozone  to become the world’s biggest by assets.

Statistics show Chinese bank assets hit $33 trillion at the end of 2016, versus $31 trillion for the eurozone. US assets stood at $16 trillion and the Japanese at $7 trillion.
The value of China’s banking system is more than 3.1 times the size of the country’s annual economic output, compared with 2.8 times for the eurozone and its banks.

What can be the possible questions from above news:
Q1. Name the country, which has overtaken eurozone as world’s biggest banking system, recently.
Share your answer in the comment section

Source- The Hindu

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