BEIJING, Sept 12 (Reuters) - China’s outstanding total social financing was 188.8 trillion yuan ($27.49 trillion) at the end of August, up 10.1 percent from a year earlier, the central bank said 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 can also serve as an indicator of activity in China’s vast shadow banking sector, which authorities are trying to rein in 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)