October 17, 2018 / 8:21 AM / a month ago

China outstanding social financing up 10.6 pct y/y at end-Sept

BEIJING, Oct 17 (Reuters) - China’s outstanding total social financing was 197.3 trillion yuan ($28.50 trillion) at the end of September, up 10.6 percent from a year earlier, the central bank said on Wednesday.

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.

The People’s Bank of China has revised the way it calculates TSF by adding financial institutions’ asset-backed securities and loan write-offs. ($1 = 6.9220 Chinese yuan renminbi) (Reporting by Beijing Monitoring Desk; Editing by Simon Cameron-Moore)

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