China’s total social financing hits record

BEIJING, Feb 18, (RTRS): China’s total social financing (TSF), a broad measure of credit and liquidity in the economy, hit a record 4.64 trillion yuan ($685.01 billion) in January, far more than expectated, data from the central bank showed on Friday.

Analysts polled by Reuters had predicted the gauge would rise to 3.25 trillion yuan from 1.59 trillion yuan in December.

The rise in financing levels should allay some of the anxiety about weakening credit growth as China’s economy slows.

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.