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BEIJING, May 12 (Reuters) - Total social financing (TSF), a broad measure of credit and liquidity in the economy, declined to 1.39 trillion yuan ($201.4 billion) in April from 2.12 trillion yuan in March, data from the central bank showed on Friday.
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. It can also hint at trends in China's vast shadow banking sector.
$1 = 6.9031 Chinese yuan Reporting by Beijing Monitoring Desk; Editing by Jacqueline Wong