July 10, 2020 / 8:10 AM / 24 days ago

China's outstanding total social financing rises 12.8% year-on-year at end-June

FILE PHOTO: Headquarters of the People's Bank of China (PBOC), the central bank, is pictured in Beijing, China September 28, 2018. REUTERS/Jason Lee/File Photo

BEIJING (Reuters) - China’s outstanding total social financing (TSF) was 271.8 trillion yuan (£30.80 trillion) at the end of June, up 12.8% from a year earlier, the central bank said on Friday.

TSF is a broad measure of credit and liquidity. It 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 June, TSF rose to 3.43 trillion yuan from 3.19 trillion yuan in May. Analysts polled by Reuters had expected June TSF to fall to 3.00 trillion yuan.

($1 = 7.0088 Chinese yuan renminbi)

Reporting by Judy Hua and Kevin Yao; Editing by Kim Coghill

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