BEIJING — Total assets of China's insurance sector amounted to 26.6 trillion yuan (about $3.88 trillion) at the end of June, official data showed.

This figure was 1.8 trillion yuan more than that at the beginning of the year, said the China Banking and Insurance Regulatory Commission.

The commission said the sector largely retained stable performance, had a stronger ability to fend off risks, and more effectively served the real economy.

Combined insurance premium incomes went up 5.1 percent year-on-year in the first half of 2022 to 2.8 trillion yuan, and expenditure on compensation and payment reached 776.8 billion yuan, up 3.1 percent.