March 10, 2019 / 1:49 AM / 7 months ago

China outstanding total social financing up 10.1 percent year-on-year at end-Feb

BEIJING (Reuters) - China’s outstanding total social financing (TSF) was 205.68 trillion yuan ($30.61 trillion) at the end of February, up 10.1 percent from a year earlier, the central bank said on Sunday.

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.

Reporting by Beijing Monitoring Desk; Editing by Michael Perry

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