China’s outstanding total social financing up 10.6pc y/y at end-May

An employee counts Chinese yuan banknotes at a Bank of China branch in Hefei, Anhui province March 10, 2010. — Reuters pic
An employee counts Chinese yuan banknotes at a Bank of China branch in Hefei, Anhui province March 10, 2010. — Reuters pic

BEIJING, June 12 — China’s outstanding total social financing (TSF) was 211.06 trillion yuan (RM126.93 trillion) at the end of May, up 10.6 per cent from a year earlier, the central bank said today.

TSF includes off-balance sheet forms of financing that exist outside the conventional bank lending system, such as initial public offerings, loans from trust companies and bond sales.

In May, TSF rose to 1.4 trillion yuan from 1.36 trillion yuan in April. Analysts polled by Reuters had expected May TSF of 1.41 trillion yuan. — Reuters

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