BEIJING, Feb 20 (Reuters) - China’s outstanding total social financing (TSF) was at 256.36 trillion yuan ($36.6 trillion) at the end of January, up 10.7% from a year earlier, the central bank said on Thursday.
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 January, TSF was at 5.07 trillion yuan, up from 2.103 trillion yuan in December. Analysts polled by Reuters had expected January TSF of 4.3 trillion yuan. ($1 = 7.0121 Chinese yuan renminbi) (Reporting by Judy Hua and Kevin Yao; Editing by Jacqueline Wong)