BEIJING, Sept 12 (Reuters) - China’s total social financing (TSF), a broad measure of credit and liquidity in the economy, rose to 1.52 trillion yuan ($221.35 billion) in August from 1.04 trillion yuan in July, data from the central bank showed 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 PBOC has revised the way it calculates TSF by adding financial institutions’ asset-backed securities and loan write-offs.
The economic barometer has become a gauge of fundraising trends and can provide hints of activity in China’s vast and unregulated shadow banking sector. Chinese authorities have been trying to clamp down on riskier forms of lending as part of a broader campaign to contain and reduce systemic financial risks. ($1 = 6.8670 Chinese yuan renminbi) (Reporting by Beijing Monitoring Desk; Editing by Kim Coghill)