November 13, 2018 / 8:57 AM / a month ago

China outstanding total social financing up 10.2 pct y/y at end-Oct

BEIJING, Nov 13 (Reuters) - China’s outstanding total social financing was 197.89 trillion yuan ($28.46 trillion) at the end of October, up 10.2 percent from a year earlier, the central bank said on Tuesday.

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 = 6.9538 Chinese yuan) (Reporting by Beijing Monitoring Desk; Editing by Richard Borsuk)

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